Netsave

Netsave

Open  for investment

About this raise: Netsave, with a valuation of $31.25 million, is raising funds on Wefunder. The company has developed a platform to provide cutting-edge solutions to the resale marketplace industry. Netsave is a sustainable resale social marketplace that makes it convenient and efficient to buy and sell used products locally on the internet. The platform uses an AI-based user screening and seller verification system to build an authentic community and generate meaningful interactions. Justin Georges founded Netsave in April 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $600,000. The campaign proceeds will be used for advertising and marketing, salary and wages, operating and maintenance expenses, and legal fees.

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Investment Overview

Committed this round: $60,500

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
08/02/2024
Close Date
03/30/2025
Min. Goal
$50,000
Max. Goal
$600,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$25,000,000

Valuation Cap

$31,250,000

Discount

0%

Company & Team

Company

Year Founded
2021
Industry
Business Services, Software, & Applications
Tech Sector
MarketplaceTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
LOS ANGELES, California
Business Type
High Growth
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
No
Founder Name
Justin Georges
Title
CEO

Financials

as of June 1, 2024
 Revenue
$3,337
 Monthly Burn
$8,000
 Runway
1.3 months

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$3,337

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-75,370

$-16,455

Summary Balance Sheet

FY 2023 FY 2022

Cash

$76

$500

Accounts Receivable

$0

$0

Total Assets

$865,146

$830,413

Short-Term Debt

$4,480

$0

Long-Term Debt

$763,525

$768,852

Total Liabilities

$768,005

$768,852

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$1,093,950
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/30/2025 Wefunder $31,250,000 $60,500 SAFE Active RegCF
03/31/2024 Wefunder $25,000,000 $109,250 SAFE Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Netsave on Wefunder 2024
Platform: Wefunder
Security Type: SAFE
Valuation: $31,250,000

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