Overview

Raised to Date: Raised: $481,572

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

StartEngine

Start Date

03/29/2023

Close Date

06/27/2023

Min. Goal

$15,000

Max. Goal

$1,235,000

Min. Investment

$200

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF    

Valuation Cap

$20,000,000

Discount

20%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

07/01/2023

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$5,351

# of Investors

544

Momentum

Funded

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Pashion Footwear

Year Founded

2017

Industry

Apparel & Fashion

Tech Sector

FashionTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

SAN LUIS OBISPO, California

Business Type

Growth

Company Website

Pashion Footwear, with a valuation of $20 million, is raising funds on StartEngine. The company makes customizable and convertible footwear, with patents in the US, EU, and China. The footwear of Pashion Footwear combines style with customization and comfort using innovative technical design and athletic materials. Pashion Footwear reported a sales growth of 450% in 2021 and has won several awards. Haley Pavone founded Pashion Footwear in August 2017. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.24 million. The campaign proceeds will be used for design and development, omnichannel expansion, marketing, company employment, and working capital.

Summary Profit and Loss Statement

	FY 2022	FY 2021
Revenue	$2,703,257	$2,834,297
COGS	$1,568,943	$2,179,507
Tax	$0	$0
Net Income	$-856,804	$-2,536,915

Summary Balance Sheet

	FY 2022	FY 2021
Cash	$47,824	$42,194
Accounts Receivable	$59,074	$0
Total Assets	$1,645,658	$1,151,264
Short-Term Debt	$1,985,112	$2,043,162
Long-Term Debt	$738,393	$82,481
Total Liabilities	$2,723,506	$2,125,643

Financials as of: 03/29/2023

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Pashion Footwear Founder Haley Pavone on Why Beauty Doesn’t Have to Be Painful

High heels are known for making a stylish statement. But they’re not known for being comfortable. As a result, many people buying shoes feel like they have to make a choice between comfort and style. 

Pashion Footwear is trying to change that. The company has invented a removable sole support mechanism that allows high heels to be transformed into flats. Its shoes are stylish, easy to walk in, and more cushioned than a standard heel or flat. We spoke with Pashion Footwear founder Haley Pavone to learn more about the company’s technology and early traction. 

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview