Locl

Locl

Closed: Apr. 2020

About this raise

LOCL, with a valuation cap of $2.5 million, is raising crowdfunding on WeFunder. The company manufactures world-class apparel for surfers, especially in the age group between 25 to 54 years. LOCL caters specifically to educated, mature, and affluent male and female surfers. LOCL was founded by Jonathan Rath in 2019 and has raised $15,000 since its inception. The current crowdfunding round has a minimum target of $50,000 and a maximum target of $107,000, and the funds will be used for product and brand development and business operations. LOCL already has partnerships with top-class designers and creatives and is growing its reach and brand visibility exponentially.

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Investment Overview

Invested this round: $50,050

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
09/10/2019
Close Date
04/29/2020
Min. Goal
$50,000
Max Goal
$107,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$2,000,000

Discount

25%

Company & Team

Company

Year Founded
2019
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Location
Malibu, California
Business Type
Life Style
Company Website
Visit Website

Team

Employees
1
Founder Name
Joel Siedenburg
Title
CEO

Financials

 Revenue
$0
 Monthly Burn
$235
 Runway
20.9 months

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-2,824

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$4,916

$0

Accounts Receivable

$0

$0

Total Assets

$13,076

$0

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/29/2020 Wefunder $2,000,000 $50,050 SAFE Funded RegCF
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Add to portfolio
Locl on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $2,000,000

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Warning: according to the close date for this deal, Locl may no longer be accepting investments.

Locl Deal Report

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