Ascend
Early Stage
Redefining how wealth is created through housing
Overview
Raised: $500
Total Commitments ($USD)
Platform
Wefunder
Start Date
07/14/2023
Close Date
04/29/2024
Min. Goal
$100,000
Max. Goal
$500,000
Min. Investment
$100
Security Type
Equity - Common
Series
Pre-Seed
SEC Filing Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$101,100
Rolling Commitments ($USD)
Status
Active
Reporting Date
09/28/2023
Days Remaining
214
% of Min. Goal
1%
% of Max. Goal
0%
Likelihood of Max
Avg. Daily Raise
$7
Momentum
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Year Founded
2023
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Ascend is raising funds on Wefunder. The real estate company uses a data-driven approach to sourcing homes at a lower price than market value. The Ascend portfolio offers renters an opportunity to become part owners of a collection of homes to align their interests with landlords and create a mutually beneficial relationship. Currently, the Ascend portfolio consists of six homes, five of which were acquired at a 20% discount off the market price. Florian Schmitz and Kenneth Luna founded Ascend in June 2022. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $500,000. The campaign proceeds will be used to continue to expand the portfolio of homes and repay money advanced by the manager to purchase homes.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$12,868 |
$0 |
|
COGS |
$5,637 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$1,046 |
$0 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$564,551 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,168,422 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$159,040 |
$0 |
|
Total Liabilities |
$159,040 |
$0 |
Financials as of: 07/14/2023
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