Payroll4Free.com

Payroll4Free.com

Early Stage

America's Small Business Payroll Service

America's Small Business Payroll Service

Overview

Raised to Date: Raised: $534,998

Total Commitments ($USD)

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

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$12.50

Early Bird Valuation

$12,288,836

Pre-Money Valuation

$13,654,262

Rolling Commitments ($USD)

Status
Funded
Reporting Date

09/30/2023

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

$1,470

# of Investors

753

Momentum
Funded
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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

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.

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
Financials as of: 09/22/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
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
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Payroll4Free on Wefunder 2022
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $13,654,262
Price per Share: $12.50

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