Loopie

Loopie

Closed: Nov. 2023

About this raise

Loopie, with a valuation of $14 million, is raising funds on Wefunder. It is a peer-to-peer laundry marketplace that connects busy individuals with reliable laundry doers. The app enables users to schedule their dirty laundry to be picked up, washed, folded, and delivered back within 24 hours. Loopie also enables laundry doers to become micro-entrepreneurs, choose their workload and working hours, and earn extra income. John Lee founded Loopie in January 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing, product, and operating costs.

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Investment Overview

Invested this round: $113,710

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
07/12/2023
Close Date
11/13/2023
Min. Goal
$50,000
Max Goal
$1,235,000
Min. Investment

$250

Security Type

Convertible Note

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$14,000,000

Discount

20%

Company & Team

Company

Year Founded
2018
Industry
Consumer Products, Goods & Services
Tech Sector
MarketplaceTech
Distribution Model
C2C
Margin
Low
Capital Intensity
Low
Location
SEATTLE, Washington
Business Type
Growth
Company Website
Visit Website

Team

Employees
9
Prior Founder Exits?
No
Founder Name
John Lee
Title
CEO

Financials

 Revenue +65% YoY
$1,316,029
as of FY2022
 Monthly Burn
$179,410
as of FY2022
 Runway
1.8 months
as of FY2022
 Gross Margin
18%
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,316,029

$799,173

COGS

$1,076,245

$667,196

Tax

$10,109

$6,235

 

 

Net Income

$-2,152,916

$-1,171,017

Summary Balance Sheet

FY 2022 FY 2021

Cash

$321,482

$358,504

Accounts Receivable

$739

$4,190

Total Assets

$375,056

$413,311

Short-Term Debt

$4,606,996

$2,416,479

Long-Term Debt

$125,000

$237,500

Total Liabilities

$4,731,996

$2,653,979

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$4,720,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/13/2023 Wefunder $14,000,000 $113,710 Convertible Note Funded RegCF
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Add to portfolio
Loopie on Wefunder 2023
Platform: Wefunder
Security Type: Convertible Note
Valuation: $14,000,000

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