Groomit
About this raise
Groomit, with a $7 million valuation cap, is raising funds on Wefunder. It is an on-demand platform that connects pet owners with pet stylists. The platform offers same-day pet grooming bookings with customizable packages. The experience is personalized and safe, connected with an extensive network of certified groomers. Sohel Kapadia founded Groomit in January 2020 and has raised over $2.4 million since its inception. The proceeds of the current crowdfunding campaign, with a minimum raise of $200,000 and a maximum raise of $1,070,000, will be used for software development, hiring talent, and marketing and growth. Groomit has over 20,000 users and has completed more than 12,000 groomings. The company generated $1.5 million in revenue in the NY market and is easily scalable to major metro cities.
Investment Overview
Invested $238,944 :
Deal Terms
Company & Team
Company
- Year Founded
- 2020
- Industry
- Pet Health, Food, and Services
- Tech Sector
- Distribution Model
- B2B2C
- Margin
- Medium
- Capital Intensity
- Low
Financials
-
Revenue
- $596,470
- Monthly Burn
- $77,756
-
Runway
- 0.6 months
- Gross Margin
- 19%
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Funding history
Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
---|---|---|---|---|---|---|
02/19/2021 | Wefunder | $7,000,000 | $238,944 | SAFE | Funded | RegCF |