Contractor+ (2023)

Contractor+ (2023)

About this raise

Contractor+, with a valuation of $4.6 million, is raising funds on Wefunder. The company has developed a mobile app for field service contractors. The app meets all the needs of field service providers with its supply pricing, job scheduling, and tool tracking. Contractor+ launched its beta version in July 2020 and MVP in November 2020. Since then, the business has generated over $180,000 in revenues, $12,000 MRR, over 20,000 active users, and more than 540 paying users. Justin Smith and Roshan Sethia founded Contractor+ in February 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $380,000. The campaign proceeds will be used for product development, business development, customer success, and attaining product market fit.

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Investment Overview

Invested this round: $107,275

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
03/01/2023
Close Date
04/30/2023
Min. Goal
$50,000
Max Goal
$380,000
Min. Investment

$100

Security Type

Convertible Note

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$3,800,000

Valuation Cap

$4,600,000

Discount

20%

Company & Team

Company

Year Founded
2020
Industry
Business Services, Software, & Applications
Tech Sector
MarketplaceTech
Distribution Model
B2B
Margin
High
Capital Intensity
Low
Location
Orlando, Florida
Business Type
Growth
Company Website
Visit Website

Team

Employees
12
Prior Founder Exits?
No
Founder Name
Justin Brian Smith
Title
CEO
Founder Name
Roshan Sethia
Title
CTO

Financials

 Revenue
$26,454
as of FY2021
 Monthly Burn
$7,077
as of FY2021
 Runway
6.3 months
as of FY2021

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$26,454

$340

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-84,924

$-7,945

Summary Balance Sheet

FY 2021 FY 2020

Cash

$44,416

$558

Accounts Receivable

$1,271

$0

Total Assets

$45,815

$558

Short-Term Debt

$15,423

$549

Long-Term Debt

$123,208

$7,904

Total Liabilities

$138,631

$8,453

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$113,527
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
08/09/2024 Wefunder $8,100,000 $483,831 Convertible Note Funded RegCF / RegD 506(c)
04/30/2023 Wefunder $4,600,000 $107,275 Convertible Note Funded RegCF
10/15/2021 Wefunder $3,000,000 $118,527 Convertible Note Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Employee History

Add to portfolio
Contractor+ on Wefunder 2023
Platform: Wefunder
Security Type: Convertible Note
Valuation: $4,600,000

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Follow Contractor+ on Wefunder 2023

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