Payroll4Free.com

Payroll4Free.com

Early Stage

America's Small Business Payroll Service

America's Small Business Payroll Service

Overview

Raised to Date: Raised: $326,318

Total Commitments ($USD)

Platform

Wefunder

Start Date

06/21/2020

Close Date

04/29/2021

Min. Goal
$50,005
Max. Goal
$499,999
Min. Investment

$101

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$10.00

Pre-Money Valuation

$10,700,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

05/01/2021

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$1,046

# of Investors

464

Momentum
Funded
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Year Founded

2019

Industry

Financial & Insurance Products & Services

Tech Sector

EnterpriseTech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Location

Beachwood, Ohio

Business Type

Growth

Payroll4Free, with a pre-money valuation of $10.7 million, is raising crowdfunding on Wefunder. The company provides payroll service, 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 was founded by Michael Rosenberg and has raised over $2 million since its inception. The current funding round has a minimum goal of $50,005 and a maximum goal of $499,999. The proceeds will be used to begin aggressive marketing, hire a marketing professional, establish revenue-generating partnerships, and enhance payroll functionality. Payroll4Free has thousands of happy clients across the country and is growing fast with a rapid acquisition rate.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$140,543

$122,291

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-376,394

$-89,996

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$157,143

$250,967

Accounts Receivable

$28,098

$1,912

Total Assets

$186,841

$252,879

Short-Term Debt

$526,863

$330,446

Long-Term Debt

$1,779,107

$1,755,736

Total Liabilities

$2,305,970

$2,086,182

Financials as of: 06/21/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Payroll4Free.com 09/20/2023 Wefunder $13,654,262 $534,998 Equity - Preferred Funded RegCF
Payroll4Free.com 04/29/2021 Wefunder $10,700,000 $326,318 Equity - Common Funded RegCF
Payroll4Free.com 12/31/2017 Wefunder - $113,471 Debt Funded RegCF
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Payroll4Free.com on Wefunder
Platform: Wefunder
Security Type: Equity - Common
Valuation: $10,700,000
Price per Share: $10.00

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