Benson Watch Company
Early Stage
Own your time
Overview
Raised: $399,536
Total Commitments ($USD)
Platform
Republic
Start Date
02/16/2021
Close Date
09/30/2021
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$250
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$6,500,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
10/02/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,776
# of Investors
935
Momentum
Funded
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Year Founded
2021
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Benson Watch Company, with a valuation cap of $6.5 million, is raising funds on Republic. The company makes watches with an emphasis on design, quality, and comfort. The watches are made using non-reactive materials for maximum comfort and tested under several rounds of quality testing. Marcel Benson founded Benson Watch Company in January 2015. The current crowdfunding campaign has a minimum target of $25,000 and a maximum of $250,000, and the proceeds will be used for growth and streamlining the supply chain. Benson Watch Company has been named a top watch brand by New York Times. The business is currently profitable and expects to generate $15 million in revenue by 2022.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$26,627 |
$4,839 |
|
COGS |
$20,429 |
$321 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-36,698 |
$-24,155 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,356 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$25,799 |
$563 |
|
Short-Term Debt |
$5,356 |
$15 |
|
Long-Term Debt |
$44,213 |
$0 |
|
Total Liabilities |
$49,569 |
$15 |
Financials as of: 02/16/2021
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