Coils to Locs

Coils to Locs

Closed: Apr. 2023

About this raise

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.

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Investment Overview

Invested this round: $79,100

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
01/23/2023
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    Open SEC Filing

Valuation Cap

$2,000,000

Discount

15%

Company & Team

Company

Year Founded
2019
Industry
Consumer Products, Goods & Services
Tech Sector
Retailtech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
Dorchester, Massachusetts
Business Type
Growth
Company Website
Visit Website

Team

Employees
2
Prior Founder Exits?
No
Founder Name
Dianne Austin
Title
CEO
Founder Name
Pamela Shaddock
Title
COO

Financials

as of Fiscal Year 2021
 Revenue
$29,364
 Cash on Hand
$60,675
Gross Margin
60%

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

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/30/2023 Wefunder $2,000,000 $79,100 SAFE Funded RegCF
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Add to portfolio
Coils to Locs on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $2,000,000

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Warning: according to the close date for this deal, Coils to Locs may no longer be accepting investments.

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