Precycle
Sustainable Grocery Store
Overview
Raised: $97,681
Total Commitments ($USD)
Platform
Honeycomb
Start Date
11/23/2023
Close Date
01/08/2024
Min. Goal
$60,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
12.50%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
01/30/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,171
# of Investors
72
Momentum
Funded
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Year Founded
2018
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Precycle is raising funds on Honeycomb. It is a zero-waste grocery store based in Brooklyn, New York. Precycle specializes in sustainable goods for the pantry, refrigerator, home, and personal needs and caters to environmentally conscious customers. The business aims to reduce waste and has been featured in news sources like the New York Family, Waste 360, and Green Matters. Katerina Bogatireva founded Precycle in December 2018. The current crowdfunding campaign has a minimum target of $60,000 and a maximum target of $124,000. The campaign proceeds will be used for refinancing high-interest debt, marketing, and inventory.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$542,716 |
$498,297 |
|
COGS |
$280,111 |
$250,610 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-78,865 |
$-29,144 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$152,582 |
$99,653 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$155,957 |
$1,030,028 |
|
Short-Term Debt |
$360,471 |
$213,467 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$360,471 |
$213,467 |
Financials as of: 11/23/2023
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