Old Flame Mending
About this raise
Old Flame Mending is raising funds on Honeycomb. It is a sewing service in Pittsburgh, Pennsylvania that offers services including tailoring, clothing repair, alterations, and custom work. Old Flame Mending works out of its shop in Avalon and also offers mending kits, classes, and a seasonal cloth swap event. The business has serviced more than 6,000 garments and won the 2022 Best of Pittsburgh Award for Tailors. Rebecca Harrison founded Old Flame Mending in August 2019. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $50,000. The campaign proceeds will be used for purchasing industrial sewing machines, refinancing loans, employee education and training, marketing, exterior signage, and working capital.
Investment Overview
Invested : $50,000
Deal Terms
Total Commitments
- Platform
- Honeycomb
- Start Date
- 08/03/2023
- Close Date
- 09/02/2023
$25,000
$50,000
$100
Debt
Quarterly
RegCF
14.00%
5.0 years
Company & Team
Company
- Year Founded
- 2019
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2C
- Margin
- High
- Capital Intensity
- Low
Financials
-
Revenue
-
$12,625
as of FY2022
- Monthly Burn
-
Profitable
as of FY2022
-
Cash on Hand
-
$1,971
as of FY2022
- Gross Margin
-
94%
as of FY2022
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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 |
|---|---|---|---|---|---|---|
| 09/02/2023 | Honeycomb | - | $50,000 | Debt | Funded | RegCF |