Drop Technologies
Empowering Cannabis Companies To Deliver More
Overview
Raised: $1,070,000
Total Commitments ($USD)
Platform
Equifund CFP
Start Date
07/22/2020
Close Date
07/08/2021
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.75
Pre-Money Valuation
$8,350,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
07/31/2021
Days Remaining
Funded
% of Min. Goal
4,280%
% of Max. Goal
100%
Likelihood of Max
Funded
Avg. Daily Raise
$3,048
# of Investors
1,975
Momentum
Funded
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Year Founded
2019
Industry
Logistics, Delivery, & Supply Chain
Tech Sector
CommerceTech
Distribution Model
B2B
Margin
High
Capital Intensity
Low
Drop Technologies, with a valuation of $8.35 million, is raising crowdfunding on Equifund CFP. The company provides last-mile delivery to cannabis retailers. The service is available to developing cannabis brands made for both medical and recreational purposes. Drop Technologies works for advertising these companies, delivering their products, and collecting digital payments. The company was founded by Vanessa Gabriel in 2019. The current crowdfunding round has a minimum target of $25,000 and a maximum target of $1,070,000, and the funds will be used for growth and expansion. Drop Technologies’ delivery service is already being used by over 96,000 retail customers and has processed $6 million in transactions in 2020.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$24,893 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-7,555 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,450 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,450 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$9,006 |
$0 |
|
Total Liabilities |
$9,006 |
$0 |
Financials as of: 07/22/2020
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