Loftie
Growth Stage
Designed for Better Sleep
Overview
Raised: $60,188
Total Commitments ($USD)
Platform
StartEngine
Start Date
10/19/2022
Close Date
02/17/2023
Min. Goal
$9,998
Max. Goal
$1,234,998
Min. Investment
$297
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$3.38
Pre-Money Valuation
$30,044,441
Rolling Commitments ($USD)
Status
Funded
Reporting Date
02/27/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$502
# of Investors
77
Momentum
Funded
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Year Founded
2018
Industry
Consumer Products, Goods & Services
Tech Sector
Retailtech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Loftie, with a valuation of $30.04 million, is raising funds on StartEngine. The company uses mindful technology and thoughtful designs to create products and services that improve sleep for its customers. The sleep wellness products of Loftie include Loftie Lamp and Loftie Clock, and help people rest, relax, and recharge. The company generated $2.5 million in revenue last year with a year-over-year growth rate of 253%. Matthew Hassett founded Loftie in July 2018. The current crowdfunding campaign has a minimum target of $9,998.04 and a maximum target of $1.23 million. The campaign proceeds will be used to expand its app content to include more sleep and wellness content and hold live wellness sessions.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$2,512,892 |
$725,730 |
|
COGS |
$1,180,280 |
$510,140 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-775,094 |
$-870,635 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$416,131 |
$53,530 |
|
Accounts Receivable |
$68,463 |
$0 |
|
Total Assets |
$1,007,376 |
$102,032 |
|
Short-Term Debt |
$2,681,453 |
$801,974 |
|
Long-Term Debt |
$500,000 |
$700,000 |
|
Total Liabilities |
$3,181,453 |
$1,501,974 |
Financials as of: 10/19/2022
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