Polpetti Italian

Polpetti Italian

Closed: Jun. 2024

About this raise

Polpetti Italian is raising funds on Honeycomb. It is a small food market in Richmond, Virginia, known for its culinary delights. Polpetti Italian specializes in delectable sauces, fresh pasta, and other bakery items with authentic Italian flavors. The business has a loyal customer base and grew by 176% in net income in 2023. Peter Riccobono and Georgia Riccobono founded Polpetti Italian in October 2019. The current crowdfunding campaign has a minimum target of $35,000 and a maximum target of $50,000. The campaign proceeds will be used for restaurant equipment for the second location and working capital.

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Investment Overview

Not Funded: $5,645

Deal Terms

Total Commitments

Platform
Honeycomb
Start Date
05/09/2024
Close Date
06/08/2024
Min. Goal
$35,000
Max Goal
$50,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

12.00%

Term Length

5.0 years

Company & Team

Company

Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Location
Richmond, Virginia
Business Type
Life Style
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
No
Founder Name
Peter Riccobono
Title
Owner/Operator
Founder Name
Georgia Riccobono
Title
Owner/Operator

Financials

as of Fiscal Year 2023
 Revenue +239% YoY
$282,013
 Monthly Burn
Profitable
 Cash on Hand
$7,654
Gross Margin
60%

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$282,013

$83,238

COGS

$111,664

$36,580

Tax

$0

$0

 

 

Net Income

$86,903

$31,258

Summary Balance Sheet

FY 2023 FY 2022

Cash

$7,654

$32,185

Accounts Receivable

$750

$0

Total Assets

$43,647

$39,448

Short-Term Debt

$2,388

$30,903

Long-Term Debt

$0

$0

Total Liabilities

$2,388

$30,903

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
06/08/2024 Honeycomb - $5,645 Debt Not Funded RegCF
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Polpetti Italian on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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Warning: according to the close date for this deal, Polpetti Italian may no longer be accepting investments.

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