Company Profile (AI Text)
Name: Magnises
Canonical URL: https://wefunder.com/magnises
Updated at: 2026-06-02T05:00:02Z

Tagline: Professional growth platform for aspirational millennials
Elevator pitch: Magnises provides an enriching way for millennials to elevate their lives while enjoying a series of highly-curated benefits for $25/month or $250/year. Centered around a robust digital platform, unparalleled access to live experiences, and community of over 10,000 highly ambitious individuals, Magnises is a must-have for any millennial living in a major urban center. Magnises' revenue is generated from brand sponsorships, membership fees and recurring add-ons to the base membership.
Description: What they do: Magnises is transforming the traditional credit and debit card by building a community of select members who receive special benefits and exclusive access. Each Magnises member carries our distinctive metal membership card, which extends and enhances their pre-existing credit or debit card, and provides perks, access, and top-tier service at restaurants, bars, shops, boutiques, and hotels.Why it's a big deal: Elitism just got a bit more accessible. Magnises offers young socialites the perks and esteem of an American Express Black Card with a fraction of the barrier to entry. It's only $250 annually and there's no spending limit, and the perks are enough to make any Ivy League legacy sprain the pinky on their tea-drinking hand. Offering everything from exclusive parties hosted by Samsung to exclusive access to their NYC Townhouse, Magnises is a status symbol for a new generation.

Key claims:
- Total raised on Wefunder: 129886 | citation: https://wefunder.com/magnises#claim-total-raised
- Total investors: 54 | citation: https://wefunder.com/magnises#claim-total-investors

Verified facts:
- Total raised on Wefunder: 129886 | observed_at: 2026-06-02T05:00:02Z | expires_at: 2026-06-03T05:00:02Z
- Total investors: 54 | observed_at: 2026-06-02T05:00:02Z | expires_at: 2026-06-03T05:00:02Z

Computed metrics:
- total_amount_raised: 129886
- total_investors: 54
- team_size: 4
- featured_investor_count: 0
- faq_count: 5
- recent_post_count: 0

Quick facts:
- $402,000 in February. $4.8m revenue run rate | citation: https://wefunder.com/magnises#claim-fact-1
- $2.1M revenue in 2015. 75% growth YoY. $3.3M in 2 years | citation: https://wefunder.com/magnises#claim-fact-2
- Currently in two cities (NYC/DC). Expanding to 10 more in 2016 | citation: https://wefunder.com/magnises#claim-fact-3
- Over 10,000 customers paying $250/year. Receiving 100 new applications each day | citation: https://wefunder.com/magnises#claim-fact-4
- Partner brands include: Tesla, Samsung, Uber, Grey Goose, and Forbes | citation: https://wefunder.com/magnises#claim-fact-5
- Select investors: Deep Fork Capital, River Park Ventures, Great Oaks Venture Capital, Former Chairman of Mastercard, Former CEO of Ogilvy & Mather | citation: https://wefunder.com/magnises#claim-fact-6

FAQ:
- Q: Three questions: 1) Your valuation of $7M off of a $100K top line in May, may seem high, any chance you have more details on your costs, growth prospects, market size, pipeline, and previous funding? 2) As you mentioned this business of concierge like services seems to be comm...
  A: Birju, Happy to discuss everything in more detail over email - bmcfarland@magnises.com. 1) We are planning on expanding to five additional cities in the next twelve months (DC, San Francisco, LA, Chicago, and Miami). There are 400,000 people in our target demographic in New York alone, and we accepted over 1,000 in our first three months. 2) Over the past several decades financial institutions, the large banks and CC companies who are our main competitors, have spent enormous amounts of time ...
- Q: How do you plan to use the funds raised?
  A: To further develop our mobile technology that allows us to recommend and fulfill requests and perks on-demand. Also, to help us expand to our next cities.
- Q: You have phenomenal 3-month growth and a very exciting business up and running. What are your costs related to the $180,000 in revenue generated thus far?
  A: We are currently running cash-flow positive, but will ramp up the team and expand to additional cities with the current raise.
- Q: Losing 1/4 of your member to churn: Do you have any comparables, or explanation as to this being a good rate of churn?
  A: Charlie, our annual retention is 80% (annual churn is 1/5). As a comparison to other companies attacking similar audiences, we're well ahead of the pack including Harry's (annual retention of 60%), Apple Music (annual retention is 79%), and Spotify (20% monthly churn). We believe our retention is extremely impressive considering subscription services and the market we're going after.
- Q: What percentage of your perks/experiences sourced from members? If the business model depends on member sourced perks, would that pose a problem in the future regarding consistency and quality of experiences in the future? How did you arrive at a 17 million valuation? How are ...
  A: Dilraj, thanks for reaching out. 1) As we grow Magnises, it's imperative that we're able to scale the offering proportionally with the member base. As our member-base has grown, we've been able to increase the quality and volume of our offering as over 75% of our perks/experiences come from members. The quality of perks and brand partnerships has dramatically increased as well. In two years, we've gone from small local partnerships to working with (and getting paid) by some of the best (in th...