Noad

Noad

Closed: Jan. 2024

About this raise

Noad, with a valuation of $3 million, is raising funds on Wefunder. The company has developed a platform that offers home exchange membership for remote workers and digital nomads. Noad enables people to avoid paying double rent when they travel by hosting other members when they are away and gaining access to other members’ homes without any cost. The platform uses a credit system wherein members earn credits when they are away from home and spend the credits to travel within the network. Jonah Wolf, Austin Laudenslager, and Tom Waugh founded Noad in April 2023. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $300,000. The campaign proceeds will be used for marketing, customer acquisition, personnel, hiring, mobile app development, and operational expenses.

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Investment Overview

Invested this round: $90,275

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
09/18/2023
Close Date
01/31/2024
Min. Goal
$50,000
Max Goal
$300,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$2,500,000

Valuation Cap

$3,000,000

Discount

0%

Company & Team

Company

Year Founded
2023
Industry
Travel and Hospitality
Tech Sector
MarketplaceTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
Denver, Colorado
Business Type
High Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
Yes
Founder Name
Jonah Wolf
Title
CEO
Founder Name
Austin Laudenslager
Title
COO
Founder Name
Tom Waugh
Title
CTO

Financials

as of Fiscal Year 2022
 Revenue
$2,650
 Monthly Burn
$534
 Runway
24+ months

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$2,650

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-6,408

$0

Summary Balance Sheet

FY 2022 FY 2021

Cash

$20,327

$0

Accounts Receivable

$0

$0

Total Assets

$46,944

$0

Short-Term Debt

$20,852

$0

Long-Term Debt

$32,500

$0

Total Liabilities

$53,352

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$30,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
01/31/2024 Wefunder $3,000,000 $90,275 SAFE Funded RegCF
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Add to portfolio
Noad on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $3,000,000

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Follow Noad on Wefunder 2023

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

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