HUGS
Early Stage
Building the future of International Student Housing
Overview
Raised: $75,591
Total Commitments ($USD)
Platform
Wefunder
Start Date
09/20/2021
Close Date
04/22/2022
Min. Goal
$50,000
Max. Goal
$500,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$3,500,000
Valuation Cap
$4,500,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$355
# of Investors
83
Momentum
Funded
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Year Founded
2021
Industry
Real Estate & Construction
Tech Sector
Proptech
Distribution Model
B2B2C
Margin
High
Capital Intensity
Low
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: 09/20/2021
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