Xiggit

Affordable, admin-free benefits built for hourly workers and freelancers

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Form C
View on Republic
Security Type
Crowd SAFE
Min Investment
$100
Location
PALO ALTO, CA
Offering Date
February 25, 2022
Expected Close Date
April 27, 2022
Target Raise
$25.00K-$500.00K
No. Investors
333
Security Price
$1
Website
xiggit.com
Number of Employees
0
Cash
$9,836
Revenue
$0
Short Term Debt
$0
Cost of Goods
$0
Long Term Debt
$45,908
Net Income
$-30,276

Company Description

Xiggit provides employers with a low-cost, administration-free benefits platform that includes a suite of benefits built specifically for hourly workers.

Perks

2 investors
Invest
$200
Receive
All the perks of $100 investment plus:
One year subscription
A gift of another one year subscription
Limited (498 left of 500)

1 investor
Invest
$1,000
Receive
All of the perks of a $200 investment plus:
Sponsor a Learn 'm Earn game in your name
A Xiggit rollup blanket
Limited (99 left of 100)

Invest
$5,000
Receive
All the perks of a $1,000 investment plus:
A lifetime subscription
Limited (10 left of 10)

Invest
$25,000
Receive
All of the perks of a $1,000 investment plus:
Meet and greet the team
Xiggit jacket
Limited (2 left of 2)

Key Deal Facts

Bringing affordable benefits down-market to close the wealth gap
Huge market; $200B+ US benefits administration market
$189,624 in individual investments for the company as of Nov 2021
Founders have 3 exits, SAAS and FinTech experience (Visa, Paypal, Affirm)
Just released industry-first robo-advisor retirement benefit
Pilot program with 5 employers, adding one employer per week
86% would be 'extremely dissatisfied' if they lost Xiggit

Management Team / Advisory Board Bios

Heather Dawson
Cofounder

Carmela Abraham
Cofounder

Michael Blanton
CTO

JD Cleary
Sales

Ambre Hautot
UI/UX

Keith Cobell
Customer Delight

Russell Jong
Marketing
Amount Raised : $198,687
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
ⓘ
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
ⓘ
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
ⓘ
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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