Aladdin

Aladdin

Africa's 1st ecosystem bank

Security Type
CAFES
Categories
Software, Technology, Retail, Finance, Marketplace, App
Min Investment
$100
Location
Wilmington, DE
Expected Close Date
April 30, 2023
Amount Raised
$477,279
Target Raise
$150K-$1M
No. Investors
351
Security Price
$1

Company Description

💥 40K users, 10K+ loans, $2 million in transaction volume
💸 Revenue positive (~$50K) in our first 6 months
💰 2 institutional investors: LoftyInc LLC & Afropreneurs invested at a valuation of $9M
✅ $200K of this round's $1.2M already raised
🤝 10 strategic partnerships secured
💪🏿 Co-founder founding director of $2B unicorn (Opay) & CEO of Okash, 1M+ users, $120M+ disbursed
💫 Team has a combined 48 yrs experience in financial services, ecommerce & technology
📌 $3B serviceable obtainable market (SOM), 60%+ of adults in Africa self-employed

Key Deal Facts

💥 40K users, 10K+ loans, $2 million in transaction volume
💸 Revenue positive (~$50K) in our first 6 months
💰 2 institutional investors: LoftyInc LLC & Afropreneurs invested at a valuation of $9M
✅ $200K of this round's $1.2M already raised
🤝 10 strategic partnerships secured
💪🏿 Co-founder founding director of $2B unicorn (Opay) & CEO of Okash, 1M+ users, $120M+ disbursed
💫 Team has a combined 48 yrs experience in financial services, ecommerce & technology
📌 $3B serviceable obtainable market (SOM), 60%+ of adults in Africa self-employed

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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