Coils to Locs

Coils to Locs

Early Stage

Ethnically inspired wigs for medical & non-medical hair loss

Ethnically inspired wigs for medical & non-medical hair loss

Overview

Raised this Round: 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    Open SEC Filing

Valuation Cap

$2,000,000

Discount

15%

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

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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Coils to Locs on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $2,000,000

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