Soraban

Soraban

Helping CPAs give companies financial reviews faster.

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Security Type
SAFE
Categories
Other
Min Investment
$20
Location
Tempe, AZ
Offering Date
July 29, 2020
Expected Close Date
October 27, 2020
Target Raise
$75.00K-$150.00K

Company Description

A single business’s financial data is incredibly immense, complex, and often very diverse. In our own experience working with accountants, we realized 90% of their work, whether it’s tax preparation, CFO services, or assurance services (e.g. audit), is just understanding and standardizing the business’s financial data. Only 10% of their efforts actually involves analyzing the data and delivering the service. This and many other reasons make accounting services like financial Statement Reviews and Audits expensive and slow.

Perks

Invest $250+ for
$500+
$1,000+
$10,000+
Invest $250+ for
$500+
$1,000+
$10,000+

Key Deal Facts

Launched a paid pilot with Wefunder.

$15K grant from Y Combinator and $20K investment from XX Team.

Up to 50% more affordable than the competition.

Automates that first 90% of work so that CPAs can complete their services much faster.

Niche: Financial statement reviews for equity crowdfunding.

Bigger picture: The $60B assurance services market.

2 technical founding members with backgrounds building accounting products.

Use of Proceeds

If $75,000 raised, proceeds go toward Engineering, Hiring a Full-Time CPA, Risk & Legal & Insurance, Wefunder Fees.

If $150,000 raised, proceeds go toward Engineering, Hiring a Full-Time CPA, Risk & Legal & Insurance, Wefunder Fees.

Management Team / Advisory Board Bios

Enoch Ko
Founder/CEO
Worked with several enterprise companies to rewrite SaaS products and scale their internal software. Built an automated bookkeeping tool from scratch. BS in computer science.


Jaemin Ko
Founding Engineer
Worked on various accounting products. Built a machine learning model that collects and analyzes users’ books to automatically categorizes & document transactions over time. BS in Mathematics.


Jun Wang
CPA, CPF, Advisor
Over 20 years of experience in accounting in various fields. Helped hundreds of businesses with bookkeeping, taxes, and review. Previously worked at two of Big Four accounting firms.
Amount Raised : $74,518
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Security Description

A SAFE is an agreement between you—the investor—and the company in which the company promises to give you a future equity stake based on the amount you invested. It also involves some kind of a triggering event that must take place in order for you to get your future equity stake. Be careful as you may only get equity if a particular event is triggered.

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