Redcrest Fried Chicken
About this raise
Redcrest Fried Chicken is raising funds on Honeycomb. It is a well-known fried chicken brand that operates as a quick-service restaurant in South Philadelphia. The business operates as a pop-up for takeout and delivery from Redcrest Kitchen, a full-service restaurant. Redcrest Fried Chicken is led by an experienced team and has received three write-ups in the Philadelphia Inquirer. Adam Volk founded Redcrest Fried Chicken in March 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $90,000. The campaign proceeds will be used for lease acquisition, general construction, opening inventory, and operating capital.
Investment Overview
Invested : $54,350
Deal Terms
Total Commitments ($USD)
- Platform
- Honeycomb
- Start Date
- 04/26/2023
- Close Date
- 06/09/2023
$50,000
$90,000
$100
Debt
Pre-Seed
RegCF
13.25%
5.0 years
Company & Team
Company
- Year Founded
- 2021
- Industry
- Food, Beverage, & Restaurants
- Tech Sector
- Distribution Model
- B2C
- Margin
- High
- Capital Intensity
- Low
Team
- Employees
- 20
- Prior Founder Exits?
- No
Financials
- Revenue -66% YoY
- $294,586
- Monthly Burn
- $10,659
-
Runway
- 0 months
- Gross Margin
- 65%
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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 |
|---|---|---|---|---|---|---|
| 06/09/2023 | Honeycomb | - | $54,350 | Debt | Funded | RegCF |