Drifter Spirits- Avua Cachaca
Growth Stage
Craft spirits brand portfolio company and sales engine for the US and Europe
Overview
Raised: $120,085
Total Commitments ($USD)
Platform
Wefunder
Start Date
04/29/2020
Close Date
09/30/2020
Min. Goal
$20,000
Max. Goal
$500,000
Min. Investment
$250
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$5,470,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
09/29/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$785
# of Investors
78
Momentum
Funded
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Year Founded
1969
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B2C
Margin
High
Capital Intensity
High
Drifter Spirits- Avua Cachaca, with a valuation cap of $5.47 million, is raising funds on Wefunder. The company functions to use its key relationships with national distributors and top bars, restaurants, and hotels to market spirits. Avua Cachaca is the beloved spirit of Brazil and a leading brand marketed by Drifter Spirits. The other brands in the portfolio of Drifter Spirits include Scandinavian botanical spirit Svol Aquavit and the Italian liquor range Gagliardo Bitter. Drifter Spirits- Avua Cachaca was founded by Peter Nevenglosky and Nathan Whitehouse in 2011 and has raised over $1.7 million since its inception. The current round of crowdfunding has a minimum raise of $20,000 and a maximum raise of $100,000, and the proceeds will be used to purchase inventory and withstand the challenges during the COVID pandemic. Drifter Spirits- Avua Cachaca distributes its spirits across 42 states in the US and generated revenue of $1.3 million in 2019.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,303,427 |
$1,349,152 |
|
COGS |
$541,606 |
$467,299 |
|
Tax |
$1,871 |
$529 |
| ||
| ||
|
Net Income |
$-313,656 |
$49,289 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$37,434 |
$10,913 |
|
Accounts Receivable |
$270,832 |
$131,335 |
|
Total Assets |
$637,846 |
$445,452 |
|
Short-Term Debt |
$667,799 |
$356,758 |
|
Long-Term Debt |
$751,670 |
$664,661 |
|
Total Liabilities |
$1,419,469 |
$1,021,419 |
Financials as of: 04/29/2020
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