Alma Financial

High yield neo-bank for underbanked users in the US

Security Type: CAFES
Categories: Technology, Y Combinator, Female Founder, B2B, SaaS, Fintech & Finance, B2C
Min Investment: $100
Location: Seattle, WA
Expected Close Date: April 29, 2024
Target Raise: $10.00K-$124.00K
No. Investors: 115
Security Price: $1
Website: getderisked.com

Number of Employees: 1
Cash: $1,384,189
Revenue: $4,604
Short Term Debt: $10,710
Cost of Goods: $0
Long Term Debt: $0
Net Income: $130,302

Key Deal Facts

High yield savings account to help underbanked people manage spend and build credit
Founder is Ex-Facebook Novi Wallet, built MPC, and grew fiat wallet from 200k to 40m users
Using a prize-linked business model to encourage saving
$1.5 m raised from Lombardstreet Ventures, Pioneer Fund, Stonks Fund, Xoogler Fund
Angels include executives at Brigit and Strikingly

Management Team / Advisory Board Bios

Agni Bhattacharya CEO & Co-founderProduct manager and entrepreneur in the internet industry with experience in social, advertising, fintech (lending + payments), and machine learning product verticals. Graduated as a Westgate Scholar from Johns Hopkins University.

Amount Raised : $1,535,803

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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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