Coils to Locs
Early Stage
Ethnically inspired wigs for medical & non-medical hair loss
Overview
Raised: $79,100
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/22/2023
Close Date
04/30/2023
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$2,000,000
Discount
15%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$815
# of Investors
155
Momentum
Funded
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Year Founded
2019
Industry
Consumer Products, Goods & Services
Tech Sector
Retailtech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Coils to Locs, with a valuation of $2 million, is raising funds on Wefunder. The company makes ethnically-inspired wigs for medical and non-medical hair loss. The company caters specifically to millions of Black women across America who lose hair due to cancer but cannot find wigs matching their tightly coiled hair. Coils to Locs has been featured on the Today Show and in Forbes, People, and Elle and has partnerships with top hospitals. Dianne Shaddock Austin and Pamela Shaddock founded Coils to Locs in May 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for digital marketing, operations software, fulfillment center, and hiring part-time business development and marketing team members.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$29,364 |
$11,469 |
|
COGS |
$11,863 |
$2,923 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$39,146 |
$7,264 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$60,675 |
$28,448 |
|
Accounts Receivable |
$670 |
$0 |
|
Total Assets |
$70,897 |
$36,218 |
|
Short-Term Debt |
$0 |
$15 |
|
Long-Term Debt |
$15,000 |
$20,000 |
|
Total Liabilities |
$15,000 |
$20,015 |
Financials as of: 01/22/2023
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