# Guac (2023)

Closed: Apr. 2023  
**View Other Rounds**  
- [Apr 2023 on Republic](https://kingscrowd.com/guac-on-republic-2023/)  
- [Apr 2022 on Republic](https://kingscrowd.com/guac-on-republic-2021/)  
- [Jul 2021 on Equifund](https://kingscrowd.com/guac-on-equifund-cfp/)

## About this raise

Guac, with a valuation of $50 million, is raising funds on Republic. It is a dedicated lifestyle banking app for millennials. The platform helps users set financial goals, track their savings progress, and save money on purchases made through the app. Guac uses advanced micro-savings technology that allows users to save while they spend. It currently has over 110,000 connected users and has helped them save more than $22 million, with year-over-year growth of 115%. Scott Armstrong and Ryan Armstrong founded Guac in 2017. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $2.5 million. The campaign proceeds will be used for sales and marketing, technology and product development, and operations.

## Investment Overview

**Invested this round:**  
$498,830

### Deal Terms

#### Total Commitments  
**Platform:** Republic  
**Start Date:** 03/23/2023  
**Close Date:** 04/28/2023  
**Min. Goal:**  
$24,997  
**Max Goal:**  
$2,500,000  
**Min. Investment:**  
$250  
**Security Type:**  
Equity - Common

**Company Stage:**  
Growth Stage  
**SEC Filing Type:**  
RegCF  
**Price Per Share:**  
$3.19  
**Pre-Money Valuation:**  
$50,000,000

### Company & Team

#### Company  
**Year Founded:**  
2017  
**Industry:**  
Financial & Insurance Products & Services  
**Tech Sector:**  
Fintech  
**Distribution Model:**  
B2B/B2C  
**Margin:**  
High  
**Capital Intensity:**  
Low  
**Location:**  
Irvine, California  
**Business Type:**  
High Growth  
**Company Website:**  
[Visit Website](https://joinguac.com/)

#### Team  
**Employees:**  
13  
**Prior Founder Exits?**  
Yes

**Founder Name:**  
Scott Armstrong  
**Title:**  
CEO  
[View Scott Armstrong LinkedIn profile](https://www.linkedin.com/in/scott-armstrong-04663425/)

**Founder Name:**  
Ryan Armstrong  
**Title:**  
Chief Revenue Officer  
[View Ryan Armstrong LinkedIn profile](https://www.linkedin.com/in/ryan-armstrong-1a2b901a9/)

## Financials

### Summary Profit and Loss Statement

|  | FY 2021 | FY 2020 |
| --- | --- | --- |
| Revenue | $0 | $0 |
| COGS | $0 | $0 |
| Tax | $-800 | $-800 |
| Net Income | $-1,362,948 | $-528,201 |

### Summary Balance Sheet

|  | FY 2021 | FY 2020 |
| --- | --- | --- |
| Cash | $91,059 | $478,582 |
| Accounts Receivable | $0 | $0 |
| Total Assets | $249,795 | $651,895 |
| Short-Term Debt | $879,316 | $169,918 |
| Long-Term Debt | $0 | $256,500 |
| Total Liabilities | $879,316 | $426,418 |

## Company Funding & Growth

### Funding history

**Total Prior Capital Raised**  
$4,125,089  
**VC Backed?**  
Yes

| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |  
| --- | --- | --- | --- | --- | --- | --- |  
| 04/28/2023 | Republic | $50,000,000 | $498,830 | Equity - Common | Funded | RegCF |  
| 04/26/2022 | Republic | $18,500,000 | $2,911,107 | SAFE | Funded | RegCF |  
| 07/28/2021 | Equifund | $5,300,000 | $1,070,000 | Equity - Common | Funded | RegCF |

### Growth Charts

- Revenue  
- Valuation  
- Price per Share  
- Employees

### Revenue History  
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.