Payroll4Free.com (2021)

About this raise

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.

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Investment Overview

Invested this round: $326,318

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
06/22/2020
Close Date
04/30/2021
Min. Goal
$50,005
Max Goal
$499,999
Min. Investment

$101

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$10.00

Pre-Money Valuation

$10,700,000

Company & Team

Company

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
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Michael Rosenberg
Title
President & CEO

Financials

 Revenue +15% YoY
$140,543
 Monthly Burn
$31,366
 Runway
5 months

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

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Company Funding & Growth

Funding history

Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Payroll4free.com 05/01/2025 Wefunder $19,820,955 $84,821 Equity - Preferred Funded 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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Growth Charts

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
Platform: Wefunder
Security Type: Equity - Common
Valuation: $10,700,000
Price per Share: $10.00

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