Fit App by Macrofit
Growth Stage
Modern, Innovative Fitness Tech and Hardware
Overview
Raised: $75,010
Total Commitments ($USD)
Platform
StartEngine
Start Date
11/17/2022
Close Date
03/17/2023
Min. Goal
$10,000
Max. Goal
$474,486
Min. Investment
$250
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$1.59
Pre-Money Valuation
$20,062,882
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/31/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$625
# of Investors
29
Momentum
Funded
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Year Founded
2018
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Fit App by Macrofit, with a valuation of $20.06 million, is raising funds on StartEngine. It is a connected fitness brand that provides fitness-related subscription content and fitness hardware. The business uses influencers to promote its content and hardware and has contracts with over 50 pro athletes, trainers, and influencers. Fit App by Macrofit launched a unique piece of home workout equipment that has generated over $3 million in sales, with the entire business generating over $10 million in total revenue. Michael DeVerna, Adam Frater, and Tyler Do founded Fit App by Macrofit in October 2018. The current crowdfunding campaign has a minimum target of $9,999.51 and a maximum target of $474,486.21. The campaign proceeds will be used for growth and expansion.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$4,255,218 |
$3,361,309 |
|
COGS |
$1,892,334 |
$625,432 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,707,519 |
$52,512 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$142,905 |
$454,970 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$173,260 |
$454,970 |
|
Short-Term Debt |
$1,211,205 |
$211,828 |
|
Long-Term Debt |
$648,850 |
$263,000 |
|
Total Liabilities |
$1,860,055 |
$474,828 |
Financials as of: 11/17/2022
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