Mylance on WeFunder | Deal Memo

Jun 5, 2021 2 min read
Invest in Mylance: Removing the lead gen burden for skilled freelancers | Wefunder
Removing the lead gen burden for skilled freelancers

Company Overview

Problem Addressed: Today, 48% of an independent consultant’s time is spent doing non-earning, admin activities that include 1) Lead generation and 2) Back office admin, leading to millions of wasted hours each year.

The Product: Mylance is building the "business in a box" for independent workers. Mylance will be the one-stop shop to market yourself as a consultant, including access to projects, a supportive community, and the products needed to remove the admin burden.

Deal Terms

  • Security: SAFE
  • Valuation Cap: $10,000,000
  • Min. Investment: $100

(Data as of June 2021.)

Mylance: WeFunder Campaign Highlights

1) Mylance revenue grew 695% from H1 2021 to $49k in H2 2021.

2) Experienced founder launching and scaling $1B+ businesses at Uber (Rides, EATS and Freight.)

After leaving Uber, I consulted independently for almost 2 years. I experienced the fulfillment and challenges of freelancing first hand, and saw what freelancing could provide: following a passion, spending more time with family, or funding that start-up dream. I became passionate about enabling flexible, fulfilling lives for millions.

Bradley Jacobs, Founder and CEO

3) 59 million independent workers in the US brought in $1.2 trillion in 2020.

4) $450k committed from accredited investors for this round on the same terms.

Did I Invest In Mylance?

I’m still in the process of writing a full deal report and decide whether or not I will invest in Mylance on WeFunder. At Angel Notes, I review 100+ pitches on 10+ platforms every month and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!

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