Mermaid Kitchen

Mermaid Kitchen

Open  for investment

About this raise

Mermaid Kitchen is raising funds on SMBX. The business sells fresh bagels and bakery items at farmers’ markets in Madison, Wisconsin. Mermaid Kitchen uses local products and sustainable ingredients to make its products and teaches people to cook them from scratch in a fun atmosphere. The business currently sells through a stall at the largest producer-only farmers’ market, DCFM, and aims to build a bigger teaching and community space. Lisa Jacobson founded Mermaid Kitchen in January 2021. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $75,000. The campaign proceeds will be used to build out the new space, upgrade transportation, and refinance debt.

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Investment Overview

Committed this round: $76,030

Deal Terms

Total Commitments ($USD)

Platform
SMBX
Start Date
02/05/2025
Close Date
03/13/2025
Min. Goal
$10,000
Max Goal
$75,000
Min. Investment

$10

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

11.25%

Term Length

3.0 years

Company & Team

Company

Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
Madison, Wisconsin
Business Type
Life Style
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Lisa Jacobson
Title
CEO

Financials

as of Fiscal Year 2023
 Revenue +231% YoY
$75,574
 Monthly Burn
Profitable
 Cash on Hand
$3,342
Gross Margin
83%

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$75,574

$22,852

COGS

$13,145

$6,291

Tax

$0

$0

 

 

Net Income

$19,458

$1,499

Summary Balance Sheet

FY 2023 FY 2022

Cash

$3,342

$1,423

Accounts Receivable

$272

$0

Total Assets

$62,756

$3,812

Short-Term Debt

$941

$5,449

Long-Term Debt

$0

$0

Total Liabilities

$941

$5,449

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/13/2025 SMBX - $76,030 Debt Active RegCF
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Mermaid Kitchen on SMBX 2025
Platform: SMBX
Security Type: Debt

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