Doorvest

Doorvest

Growth Stage

Democratizing financial security through rental homeownership

Democratizing financial security through rental homeownership

Overview

Raised to Date: Raised: $383,219

Total Commitments ($USD)

Platform

Wefunder

Start Date

03/06/2023

Close Date

04/06/2023

Min. Goal
$50,000
Max. Goal
$500,000
Min. Investment

$100

Security Type

SAFE

Series

Series B

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$60,000,000

Discount

15%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/29/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$12,362

# of Investors

574

Momentum
Funded
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Year Founded

2019

Industry

Real Estate & Construction

Tech Sector

Proptech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

San Francisco, California

Business Type

Growth

Doorvest, with a valuation of $60 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 10.5 times year-over-year growth in 2022. 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 $500,000. The campaign proceeds will be used for product development, hiring, and extending the runway.

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$19,666,531

$1,835,734

COGS

$18,178,945

$1,804,909

Tax

$57,299

$15,082

 

 

Net Income

$-2,910,410

$-479,577

Summary Balance Sheet

FY 2021 FY 2020

Cash

$9,777,362

$2,593,155

Accounts Receivable

$15,783

$0

Total Assets

$29,559,034

$4,227,136

Short-Term Debt

$15,369,581

$1,078,235

Long-Term Debt

$157,897

$35,944

Total Liabilities

$15,527,478

$1,114,179

Financials as of: 03/06/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Doorvest 04/06/2023 Wefunder $60,000,000 $383,219 SAFE Funded RegCF
Doorvest 12/08/2021 Wefunder $59,750,615 $205,308 Equity - Preferred Funded RegCF
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Doorvest on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $60,000,000

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