Remark Glass

Remark Glass

Closed: Jul. 2024

About this raise

Remark Glass is raising funds on Honeycomb. The company is a Philadelphia-based business that creates unique glassware and home décor items from recycled glass. Their product offerings include handcrafted glassware and custom art pieces that emphasize sustainability and craftsmanship. Remark Glass aims to reduce waste and promote environmental responsibility through their innovative use of recycled materials. Rebecca Davies and Danielle Ruttenberg founded Remark Glass in 2016. The current crowdfunding campaign has a minimum target of $60,000 and a maximum target of $124,000. The campaign proceeds will be used to expand production capabilities, purchase new equipment, increase inventory, and invest in marketing initiatives to broaden their customer base.

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Investment Overview

Invested this round: $124,000

Deal Terms

Total Commitments

Platform
Honeycomb
Start Date
06/11/2024
Close Date
07/25/2024
Min. Goal
$60,000
Max Goal
$124,000
Min. Investment

$100

Security Type

Debt

Payment Schedule

Quarterly

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

10.50%

Term Length

3.0 years

Company & Team

Company

Year Founded
2016
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Location
Philadelphia, Pennsylvania
Business Type
Life Style
Company Website
Visit Website

Team

Employees
21
Prior Founder Exits?
No
Founder Name
Rebecca Davies
Title
Owner
Founder Name
Danielle Ruttenberg
Title
Owner

Financials

 Revenue +117% YoY
$966,950
as of FY2024
 Monthly Burn
Profitable
as of FY2024
 Cash on Hand
$18,646
as of FY2024
 Gross Margin
95%
as of FY2024
View Detailed Financials Expand

Summary Profit and Loss Statement

FY 2024 FY 2023

Revenue

$966,950

$445,521

COGS

$50,264

$45,819

Tax

$0

$0

 

 

Net Income

$242,044

$-247,958

Summary Balance Sheet

FY 2024 FY 2023

Cash

$18,646

$15,408

Accounts Receivable

$310,456

$166,701

Total Assets

$408,179

$238,806

Short-Term Debt

$433,709

$477,431

Long-Term Debt

$7,947

$11,037

Total Liabilities

$441,656

$488,468
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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
07/25/2024 Honeycomb - $124,000 Debt Funded RegCF
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Remark Glass on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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

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