Payroll4free.com

Payroll4free.com

Early Stage

America's Small Business Payroll Service

America's Small Business Payroll Service

Overview

Raised this Round: Raised: $108,271

Total Commitments ($USD)

Platform

Wefunder

Start Date

08/22/2024

Close Date

04/30/2025

Min. Goal
$50,006
Max. Goal
$494,289
Min. Investment

$350

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$17.50

Early Bird Valuation

$17,838,860

Pre-Money Valuation

$19,820,955

Year Founded

2019

Industry

Financial & Insurance Products & Services

Tech Sector

EnterpriseTech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Location

Beachwood, Ohio

Business Type

High Growth

Payroll4Free.com, with a valuation of $19.82 million, is raising funds on Wefunder. The company provides payroll services, specifically to small businesses. It helps in reducing the fees and charges associated with payroll services and makes them more affordable. The services of Payroll4Free are free and rich with features. Payroll4Free has been rated 4.8/5 in service and support, and the client service revenue went up by 25% in the first quarter of 2024 compared to the same period in 2023. Michael Rosenberg founded Payroll4Free in January 2019. The current crowdfunding campaign has a minimum target of $50,006 and a maximum target of $494,289. The campaign proceeds will be used to continue the automation of the onboarding process, continue to automate tax reporting functions, and add additional service personnel.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$466,110

$415,534

COGS

$6,000

$0

Tax

$0

$-562

 

 

Net Income

$-302,250

$-321,642

Summary Balance Sheet

FY 2023 FY 2022

Cash

$62,862

$45,642

Accounts Receivable

$3,312

$4,174

Total Assets

$66,173

$49,816

Short-Term Debt

$1,006,884

$769,981

Long-Term Debt

$2,074,319

$2,185,706

Total Liabilities

$3,081,203

$2,955,687

Financials as of: 08/22/2024
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Raise History

Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Payroll4free.com 04/30/2025 Wefunder $19,820,955 $108,271 Equity - Preferred Active RegCF
Payroll4Free.com 09/21/2023 Wefunder $13,654,262 $534,998 Equity - Preferred Funded RegCF
Payroll4Free.com 04/30/2021 Wefunder $10,700,000 $326,318 Equity - Common Funded RegCF
Payroll4Free.com 01/01/2018 Wefunder - $113,471 Debt Funded RegCF
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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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Payroll4Free.com on Wefunder 2024
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $19,820,955
Price per Share: $17.50

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