Hidrent

Hidrent

Early Stage

Off Duty. On Demand.

Off Duty. On Demand.

Overview

Raised to Date: Raised: $100,098

Total Commitments ($USD)

Platform

Republic

Start Date

07/14/2020

Close Date

01/28/2021

Min. Goal
$25,000
Max. Goal
$490,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$3,000,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

01/30/2021

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$506

# of Investors

313

Momentum
Funded
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Year Founded

2019

Industry

Consumer Products, Goods & Services

Tech Sector

MarketplaceTech

Distribution Model

C2C

Margin

High

Capital Intensity

Low

Location

Celina, Texas

Business Type

Growth

Hidrent, with a valuation cap of $3 million, is raising crowdfunding on Republic. The company provides on-demand labor service through off-duty firefighters. The highly trusted off-duty firefighters offer services, including repairs, maintenance, and assembly. Hidrent was founded by Dave Heimbuch in May 2019. The proceeds of the current crowdfunding round, with a minimum raise of $25,000 and a maximum raise of $490,000, will be used to develop a web application, improve its product features, expand into new markets, launch an affiliate program, and optimize the process to grow its B2B channel. Hidrent reported a 233% increase in revenue from Q1 2020 to Q2 2020, with the onset of COVID-19. The app has over 36,000 downloads and has completed 1,600 jobs.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$22,059

$13,191

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-80,090

$-141,846

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$13,588

$7,544

Accounts Receivable

$0

$0

Total Assets

$13,588

$7,544

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 07/14/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Hidrent 10/18/2022 StartEngine $8,500,000 $148,491 Equity - Preferred Funded RegCF
Hidrent 01/28/2021 Republic $3,000,000 $100,098 SAFE Funded RegCF
Hidrent 08/18/2019 Microventures $3,500,000 $39,152 Convertible Note Funded RegCF
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Hidrent on Republic
Platform: Republic
Security Type: SAFE
Valuation: $3,000,000

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