Riff

Riff

Closed: Nov. 2022

About this raise

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.

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Investment Overview

Invested this round: $429,419

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
01/14/2022
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

Company & Team

Company

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
Company Website
Visit Website

Team

Employees
5
Prior Founder Exits?
No
Founder Name
Paul Evers
Title
CEO
Founder Name
Nate Armbrust
Title
Product Oversight
Founder Name
Bobby Evers
Title
Creative Director
Founder Name
Kevin Smyth
Title
COO

Financials

 Revenue -40.8% YoY
$414,316
 Monthly Burn
$101,136
 Runway
0.7 months
Gross Margin
16%

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

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/30/2022 Wefunder $11,075,564 $429,419 Equity - Preferred Funded RegCF
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Add to portfolio
Riff on Wefunder 2022
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $11,075,564
Price per Share: $0.68

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