Payroll4Free.com (2023)

About this raise

Payroll4Free, with a valuation of $13.65 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 74% in 2022 compared to 2021. Michael Rosenberg founded Payroll4Free in January 2019. The current crowdfunding campaign has a minimum target of $50,006 and a maximum target of $534,997. The campaign proceeds will be used to establish revenue-generating partnerships, continue to automate tax reporting functions, and redesign UI.

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Investment Overview

Invested this round: $534,998

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
09/22/2022
Close Date
09/21/2023
Min. Goal
$50,006
Max Goal
$534,998
Min. Investment

$250

Security Type

Equity - Preferred

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$12.50

Early Bird Valuation

$12,288,836

Pre-Money Valuation

$13,654,262

Company & Team

Company

Year Founded
2019
Industry
Financial & Insurance Products & Services
Tech Sector
EnterpriseTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Location
Beachwood, Ohio
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Michael Rosenberg
Title
President & CEO

Financials

 Revenue +29% YoY
$271,861
as of FY2022
 Monthly Burn
$26,804
as of FY2022
 Runway
1.7 months
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$415,534

$271,861

COGS

$0

$0

Tax

$562

$686

 

 

Net Income

$-321,642

$-431,231

Summary Balance Sheet

FY 2022 FY 2021

Cash

$45,642

$14,791

Accounts Receivable

$4,174

$3,302

Total Assets

$49,816

$25,447

Short-Term Debt

$769,981

$701,107

Long-Term Debt

$2,185,706

$2,134,786

Total Liabilities

$2,955,687

$2,835,893

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$305,230
VC Backed?
No
Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Payroll4free.com 05/01/2025 Wefunder $19,820,955 $93,821 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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Add to portfolio
Payroll4Free on Wefunder 2022
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $13,654,262
Price per Share: $12.50

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