Doorvest
Growth Stage
Democratizing financial security through rental homeownership
Overview
Raised: $205,308
Total Commitments ($USD)
Platform
Wefunder
Start Date
11/18/2021
Close Date
12/09/2021
Min. Goal
$50,000
Max. Goal
$200,000
Min. Investment
$100
Security Type
Equity - Preferred
Series
Series A
SEC Filing Type
RegCF
Price Per Share
$2.11
Pre-Money Valuation
$59,750,615
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/31/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$9,777
# of Investors
303
Momentum
Funded
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Year Founded
2019
Industry
Real Estate & Construction
Tech Sector
Proptech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Doorvest, with a valuation of $59.8 million, is raising funds on Wefunder. The company is changing the real estate game by democratizing financial security through rental ownership. The real estate investing platform of Doorvest allows first-time investors to enter the real estate market and provides long-term investment properties. Doorvest helps investors identify and purchase investment properties in half the time and has experienced a 14 times growth in 2021 year-over-year. Andrew Luong and Justin Kasad founded Doorvest in July 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $200,000. The campaign proceeds will be used for marketing, product development, and supply.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,841,647 |
$972 |
|
COGS |
$1,804,909 |
$0 |
|
Tax |
$659 |
$0 |
| ||
| ||
|
Net Income |
$-498,992 |
$-4,804 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$3,619,914 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$4,207,721 |
$134,052 |
|
Short-Term Debt |
$27,237 |
$0 |
|
Long-Term Debt |
$1,086,942 |
$111,350 |
|
Total Liabilities |
$1,114,179 |
$111,350 |
Financials as of: 11/18/2021
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