ReThink Ice Cream

Early Stage

All-natural, “tummy friendly” dairy ice cream currently available in over 490 retailers including Whole Foods

Overview

Raised to Date: Raised: $121,428

Total Commitments ($USD)

Platform

Microventures

Start Date

04/22/2021

Close Date

07/31/2021

Min. Goal

$25,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

Convertible Note

Series

Seed

Funding Type

RegCF

Valuation Cap

$5,000,000

Discount Rate

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

08/01/2021

Days Remaining
Funded
% of Min. Goal

486%

% of Max. Goal

49%

Likelihood of Max
Funded
Avg. Daily Raise

$1,214

# of Investors

245

Momentum
Funded
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Location

Napa, California

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Business Type

Growth

ReThink Ice Cream, with a $5 million valuation cap, is raising funds on MicroVentures. The company makes low-sugar and tummy-friendly ice creams using all-natural ingredients, collagen, whey protein isolate, and prebiotic fiber. George Haymaker founded ReThink Ice Cream in 2018 and raised $70,000 in its pre-seed round of financing. The current crowdfunding round has a minimum target of $25,000 and a maximum target of $250,000, and the funds will be used for social media advertising, PR, sampling, influencer marketing, and working capital. ReThink Ice Cream is currently available with 490 retailers and reported a revenue of $419,445 in 2020.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$419,445

$439,958

COGS

$315,104

$523,438

Tax

$0

$0

 

 

Net Income

$-917,022

$-1,392,281

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$86,362

$146,830

Accounts Receivable

$23,937

$18,264

Total Assets

$389,927

$355,506

Short-Term Debt

$0

$0

Long-Term Debt

$1,799,825

$1,490,914

Total Liabilities

$1,799,825

$1,490,914

Financials as of: 04/22/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
ReThink Ice Cream 02/21/2022 Republic $5,000,000 $102,204 SAFE Funded RegCF
ReThink Ice Cream 07/31/2021 Microventures $5,000,000 $121,428 Convertible Note Funded RegCF
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ReThink Ice Cream on MicroVentures
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Platform: Microventures
Security Type: Convertible Note
Valuation: $5,000,000
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