Avenify On Republic - Plato AiStream V2.1

Republished By Plato

Followers: 0

Analytics

Raised to Date: $301,909

Aggregate Commitments $

Total: $' + total_amount_formatted + '

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Platform

Republic

Start Date

10/03/2019

Close Date

04/29/2020

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Pre-Seed

Valuation Cap

$4,000,000

Discount Rate

20%

Rolling Commitments $

Prior period: $' + weekly_amount_formatted + '

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Status

Funded

Reporting Date

05/03/2020

Days Remaining

Funded

% of Min. Goal

1,208%

% of Max. Goal

28%

Likelihood of Max

Funded

Avg. Daily Raise

$1,445

# of Investors

1,151

Momentum

Funded

Location

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Business Type

High Growth

Avenify, a marketplace lending platform for Income Share Agreements, is raising funds on Republic. The company has a valuation cap of $4 million and is revolutionizing the student financing market. Avenify helps the students to fund their education through ISAs rather than traditional loans. By doing so, students do not need to pay interest on loans; instead, they share a fixed percentage of their income with the company for a stipulated period of time. Avenify was founded by Justin Potts and Timo Sheridan in July 2018 and has raised around $100,000 since its inception. The current round of crowdfunding has a minimum goal of $25,000 and a maximum goal of $107,000. Avenify has over 2,000 student sign-ups and has processed more than 500 funding applications. It plans to grow to 10,000 students and 2,500 applications by 2020, with projected revenues of $100,000.