NYCE
Own a piece of the skyline—and join a community of future millionaires
Overview
Raised: $193,429
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/03/2023
Close Date
04/30/2023
Min. Goal
$50,000
Max. Goal
$4,000,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
Funding Type
RegCF
Valuation Cap
$125,000,000
Discount Rate
20%
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/01/2023
Days Remaining
88
% of Min. Goal
387%
% of Max. Goal
5%
Likelihood of Max
Avg. Daily Raise
$6,670
# of Investors
465
Momentum
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Location
New York, New York
Industry
Real Estate & Construction
Tech Sector
Fintech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
NYCE, with a valuation of $125 million, is raising funds on Wefunder. The company owns, develops, and operates apartment buildings in NYC Metro, Philadelphia, and Washington DC and allows women and millennials of color to own a part of real estate portfolios. NYCE aims to bring over 100,000 millennials to co-own real estate with them and build wealth for the generation. NYCE has launched its app, Robinhood of real estate, with over 1.2 million users across community members, subscribers, and investors. Philip Michael founded NYCE in January 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $4 million. The campaign proceeds will be used for acquisitions, operations, salaries, and marketing.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$14,768,428 |
$5,340,296 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-6,934,929 |
$-2,315,090 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$238,050 |
$467,961 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$8,908,809 |
$7,566,890 |
|
Short-Term Debt |
$2,097,904 |
$1,212,787 |
|
Long-Term Debt |
$40,509 |
$0 |
|
Total Liabilities |
$2,138,413 |
$1,212,787 |
Financials as of: 01/03/2023
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| NYCE | 04/30/2023 | Wefunder | $125,000,000 | $193,429 | SAFE | Active | RegCF |
| NYCE | 09/13/2021 | Wefunder | $50,000,000 | $535,000 | Equity - Preferred | Funded | RegCF |
| NYCE | 07/31/2020 | Wefunder | $25,000,000 | $727,175 | SAFE | Funded | RegCF |
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