RedThread
Early Stage
Custom-fit clothing made to your measurements in one week, from just 2 photos
Overview
Raised: $126,073
Total Commitments ($USD)
Platform
Republic
Start Date
08/24/2022
Close Date
03/09/2023
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$150
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$9,000,000
Discount
15%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$643
# of Investors
217
Momentum
Funded
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Year Founded
2018
Industry
Apparel & Fashion
Tech Sector
FashionTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
RedThread, with a valuation of $9 million, is raising funds on Republic. The company makes custom-fit clothing using its patent-pending technology. The technology enables RedThread to make high-quality custom-fit clothes to the exact measurement using just two photos. The company rejects outdated body standards and celebrates all body types and sizes. RedThread has reported a 40% sales growth CAGR year-to-date with 50% repeat purchases and a low 8% return rate. Meghan Litchfield and Sonia Martin founded RedThread in July 2018. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used for new product development and expansion of the customer base.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$246,202 |
$213,136 |
|
COGS |
$125,106 |
$114,887 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-376,391 |
$-345,772 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$18,489 |
$4,524 |
|
Accounts Receivable |
$196 |
$0 |
|
Total Assets |
$458,361 |
$488,863 |
|
Short-Term Debt |
$264,260 |
$251,289 |
|
Long-Term Debt |
$1,285,137 |
$952,220 |
|
Total Liabilities |
$1,549,397 |
$1,203,509 |
Financials as of: 08/24/2022
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