HUGS

Early Stage

Building the future of International Student Housing

Analytics

Raised to Date: Raised: $109,159

Aggregate Commitments $

Platform

Wefunder

Start Date

09/21/2021

Close Date

01/07/2022

Min. Goal

$50,000

Max. Goal

$500,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Pre-Seed

Valuation Cap

$4,500,000

Discount Rate

0%

Rolling Commitments $

Status

Active

Reporting Date

12/05/2021

Days Remaining

33

% of Min. Goal

218%

% of Max. Goal

22%

Likelihood of Max
unlikely
Avg. Daily Raise

$1,455

Momentum
cool.svg
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Location

San Diego, California

Industry

Real Estate & Construction

Tech Sector

Proptech

Distribution Model

B2B2C

Margin

High

Capital Intensity

Low

Business Type

Growth

HUGS, with a valuation of $8.5 million, is raising funds on Wefunder. The company is solving the housing problems of international students with its hassle-free housing solutions. The international students create an account on the HUGS website, upload their documents, and calculate a HUGS score. They can then browse through the offerings and get secure housing for themselves. HUGS has acquired a partnership with the University of San Diego and reported a 253% week-over-week revenue growth in August 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $500,000. The campaign proceeds will be used for sales and marketing, technical development, professional development, and operational expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-7,802

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$3,448

$0

Accounts Receivable

$0

$0

Total Assets

$3,448

$0

Short-Term Debt

$3,550

$0

Long-Term Debt

$0

$0

Total Liabilities

$3,550

$0

Financials as of: 09/21/2021
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HUGS on Wefunder 2021
$
Platform: Wefunder
Security Type: SAFE
Valuation: $4,500,000

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