Kift (formerly Kibbo)
Early Stage
A subscription service combining co-living + vanlife
Overview
Raised: $1,018,183
Total Commitments ($USD)
Platform
Republic
Start Date
01/28/2021
Close Date
04/30/2021
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$250
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$15,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/02/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$11,067
# of Investors
1,830
Momentum
Funded
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Year Founded
2019
Industry
Travel and Hospitality
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
High
Kibbo, with a valuation cap of $15 million, is raising crowdfunding on Republic. The company is developing a housing product that combines co-living and van life. The housing product of Kibbo will allow people to live in a camper van, change locations whenever they want, connect with other people, and have space to work. Colin O’Donnell founded Kibbo in April 2019 and raised over $600,000 in previous rounds of financing. The proceeds of the current round of crowdfunding, with a minimum goal of $25,000 and a maximum goal of $1,070,000, will be used for growth and expansion. Kibbo is capitalizing on the upcoming trends of co-living, remote working, and transportation.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-62,261 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$269,728 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$415,314 |
$0 |
|
Short-Term Debt |
$48,551 |
$0 |
|
Long-Term Debt |
$103,024 |
$0 |
|
Total Liabilities |
$151,575 |
$0 |
Financials as of: 01/28/2021
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