This company is no longer in business. Investors can get details about any potential exits or failures here.

Riff

Riff

Early Stage

Coffee’s contributing to the climate crisis. We have a win-win-win solution.

Coffee’s contributing to the climate crisis. We have a win-win-win solution.

Overview

Raised to Date: Raised: $429,419

Total Commitments ($USD)

Platform

Wefunder

Start Date

01/13/2022

Close Date

11/30/2022

Min. Goal
$50,001
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.68

Early Bird Valuation

$10,602,528

Pre-Money Valuation

$11,075,564

Rolling Commitments ($USD)

Status
Funded
Reporting Date

12/03/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$1,342

# of Investors

287

Momentum
Funded
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Year Founded

2017

Industry

Food, Beverage, & Restaurants

Tech Sector

Foodtech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

Redmond, Oregon

Business Type

Life Style

Riff, with a valuation of $11.1 million, is raising funds on Wefunder. It is a purpose-driven coffee brand with the mission to reverse climate change caused by coffee fruit waste (cascara). The company aims to upcycle cascara into food and beverage products and save it from wreaking havoc on the environment. Riff’s energy drink is environment-friendly, tasty, all-natural, and ethically sourced. Paul Evers, Nate Armburst, Kevin Smyth, and Bobby Evers founded Riff in May 2017. The current crowdfunding campaign has a minimum target of $50,0001 and a maximum target of $1,070,000. The campaign proceeds will be used for marketing, cost of goods sold, customer acquisition costs, e-commerce fees, and other expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$414,316

$699,358

COGS

$346,397

$539,807

Tax

$0

$0

 

 

Net Income

$-1,213,637

$-1,357,007

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$75,847

$139,072

Accounts Receivable

$8,770

$9,143

Total Assets

$599,732

$667,457

Short-Term Debt

$781,074

$537,391

Long-Term Debt

$513,848

$261,620

Total Liabilities

$1,294,922

$799,011

Financials as of: 01/13/2022
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Riff on Wefunder 2022
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $11,075,564
Price per Share: $0.68

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