MAGFAST

Charge Your Phone at the Speed of Light

Company Information

Website:

https://www.magfast.com/

Sector:

Consumer Electronics

Location:

Cornwall, NY

MAGFAST solves a problem you probably don’t think much about — until it happens to you.

That problem is a dead battery — on your smartphone, your laptop, or any of your countless other electronics.

More than sixty percent of smartphone users run out of battery at least once a week. And while available almost everywhere, existing cables lead to frustratingly slow charging times.

That’s why MAGFAST created something different: Premium cables with the potential to deliver the world’s fastest charging times.

Its cables first launched in 2022, and brought in more than twenty million dollars in sales. MAGFAST is now selling its second-generation of cables.

Team Background

Seymour Segnit - Co-Founder & CEO

Seymour has significant domain experience, having founded thingCHARGER, a company selling mobile accessories, prior to starting MAGFAST.

Prior to that, he founded Change That’s Right Now, a wellness company helping people overcome their fears. Before that, he founded Speedilicious, a company focusing on making internet speeds faster.

Seymour began his career with Ogilvy, an advertising company. He studied Engineering at Oxford University.

Amy Segnit - Co-Founder & Secretary

Most recently, Amy co-founded thingCHARGER, the company selling mobile accessories. Before that, she had a twenty-three-year career as a visual designer, completing projects for notable clients like Barnes & Noble, Def Jam/Island Records, and Barron’s.

She earned a Bachelor’s degree in Visual and Performing Arts from Purchase College.

Co-Investors

Raising
$4.652 million
Committed
$133.588K (3%)
Current Valuation
$43.061 million
Min. Investment
$110
Deal Type
Title III
(For all investors)
Offering Type
Equity
Finance History
  • $3.209 million
    2021-12-10
    Unknown
  • $2.132 million
    2022-12-09
    Unknown
Notable Investors
Learn more on Netcapital