Overview

Raised to Date: Raised: $101,833

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Wefunder

Start Date

01/23/2022

Close Date

07/31/2022

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF    

Early Bird Val. Cap

$5,000,000

Valuation Cap

$6,000,000

Discount

20%

Venture Capital Investors:

Bonbillo Ventures

Rolling Commitments ($USD)

Status

Funded

Reporting Date

07/30/2022

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$542

# of Investors

53

Momentum

Funded

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GreenChoice

Year Founded

2018

Industry

Food, Beverage, & Restaurants

Tech Sector

MarketplaceTech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Location

Somerville, Massachusetts

Business Type

Life Style

Company Website

GreenChoice, with a valuation of $6 million, is raising funds on Wefunder. The company has developed a grocery marketplace that sells nutritious and sustainable food products. The products on GreenChoice are climate-positive and suitable for conscious customers with dietary needs. GreenChoice has a database of over 360,000 grocery products and more than 40,000 organic monthly users with 18% month-over-month growth. Galen Karlan-Mason founded GreenChoice in March 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for retaining the current team, hiring, marketing, servers, CRM, and office SaaS.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$303	$0
COGS	$1,609	$1,048
Tax	$2,672	$4,342
Net Income	$-197,874	$-151,619

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$60,433	$95,673
Accounts Receivable	$0	$0
Total Assets	$60,687	$95,882
Short-Term Debt	$12,200	$0
Long-Term Debt	$298,000	$247,500
Total Liabilities	$310,200	$247,500

Financials as of: 01/23/2022

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GreenChoice Founder Galen Karlan-Mason Discusses Transparency in Groceries

The United States is home to a diversity of special dietary needs due to various health conditions, personal values, cultures, and more. While grocery store shelves have an abundance of choices, finding food that fits specific needs can be frustrating and time consuming. When shopping at the grocery, 32 million Americans need to account for food allergies, and 9.7 million vegans have to scrutinize labels to avoid meat and animal products. 

GreenChoice created a customizable mobile app that tells users exactly how a food product matches their needs and values with just a quick scan. The company is now working on an online grocery store with eco-conscious shipping. We reached out to founder and CEO Galen Karlan-Mason to learn more about the GreenChoice team’s personal connection to food and who the company will hire next.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview