Fast Bags Corp
About this raise
Fast Bags Corp, with a valuation of $9.54 million, is raising funds on Wefunder. The company makes biodegradable trash bags that break down in two years. The trash bags of Fast Bags Corp, BagUps, are patent-protected and offer ease of use, convenience, and a good experience to the customers. Fast Bags Corp increased its sales by 277% from January to July 2022, compared to the same period in 2021, and plans to introduce many new products in the future. Jack Licata founded Fast Bags Corp in January 2007. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $499,999. The campaign proceeds will be used for advertising and repayment of advanced advertising loans, production equipment, and R&D for new products.
Investment Overview
Invested : $158,440
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 01/12/2023
- Close Date
- 04/29/2024
$50,000
$499,999
$100
Equity - Preferred
Early Stage
RegCF
$2.00
$8,588,599
$9,542,888
Company & Team
Company
- Year Founded
- 2007
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2B/B2C
- Margin
- Medium
- Capital Intensity
- Low
Financials
-
Revenue
-
$270,850
as of FY2022
- Monthly Burn
-
$23,752
as of FY2022
-
Runway
-
1.5 months
as of FY2022
- Gross Margin
-
73%
as of FY2022
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $104,667
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/29/2024 | Wefunder | $9,542,888 | $158,440 | Equity - Preferred | Funded | RegCF |