Afrobility | Paystack valuation & founders' ownership over time

	B	C	D	E	F	G	H
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2	Paystack valuations & founders' ownership over time
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4	Funding round	Funds raised	Paystack post-money valuation (low estimate)	Paystack post-money valuation (high estimate)	Combined founders' equity remaining (low)	Combined founders' equity remaining (high)	Source (for funds raised)
5	Y Combinator (2016-Mar)	$120,000	$1,714,286	$1,714,286	93%	93%	YC Site
6	Angel & other (2016-Mar to 2016-Dec)	$735,002	$4,900,013	$9,187,525	79%	86%	N/A (calculated or inferred from other data points)
7	Seed (2016-Dec)	$1,300,000	$5,200,000	$13,000,000	59%	77%	Paystack site
8	LaunchPad accelerator (2017-Dec)	$50,000	N/A (non-dilutive raise)	N/A (non-dilutive raise)	59%	77%	VentureBurn
9	Series A (2018-Aug)	$8,000,000	$26,666,667	$40,000,000	35%	55%	Paystack site
10	All rounds	$10,205,002	N/A	N/A	N/A	N/A	Paystack site, Digest Africa & SEC Form D filing
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12	Assumptions (for investor dilution across rounds)	Investor equity taken (low estimate)	Investor equity taken (high estimate)	Source
13	Y Combinator	7%	7%	YC site (2015 deal terms)
14	Angel & other rounds	8%	15%	Finerva
15	Seed round	10%	25%	Finerva
16	LaunchPad accelerator (non-dilutive)	0%	0%	VentureBurn
17	Series A	20%	30%	Finerva
18	Option Pool (for non-founder employees)	10%	15%	Finerva
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20	Legend
21	Inputs
22	Calculated values
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24	Last updated	2021-January-08 (by Olumide Ogunsanwo)
25	Disclaimer	All values are estimates. We have no affiliation, connection or relationship with Paystack. Consider all #s for entertainment purposes only
26	Contact	E-mail info@afrobility if you have any feedback (or better estimate suggestions!)
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