Saucy Asian

Saucy Asian

Closed: Nov. 2023

About this raise

Saucy Asian is raising funds on SMBX. The restaurant is based in San Francisco, California, and serves Korean fusion delights. Saucy Asian’s offerings are authentically inauthentic, naturally healthy, and include burritos, bowls, and wings. The business brings the taste of Seoul street food culture to modern customers in a hip and approachable way. Andrew Shinn founded Saucy Asian in September 2022. The current crowdfunding campaign has a minimum target of $20,000 and a maximum target of $124,000. The campaign proceeds will be used to open a second location in Emeryville, California.

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Investment Overview

Invested this round: $37,020

Deal Terms

Total Commitments

Platform
SMBX
Start Date
10/17/2023
Close Date
11/30/2023
Min. Goal
$20,000
Max Goal
$124,000
Min. Investment

$10

Security Type

Debt

Payment Schedule

Monthly

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

10.75%

Term Length

3.0 years

Company & Team

Company

Year Founded
2022
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
San Francisco, California
Business Type
Life Style
Company Website
Visit Website

Team

Employees
10
Prior Founder Exits?
No
Founder Name
Andrew Shinn
Title
CEO

Financials

 Revenue +15% YoY
$1,462,266
as of FY2022
 Monthly Burn
Profitable
as of FY2022
 Cash on Hand
$71,949
as of FY2022
 Gross Margin
78%
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,462,266

$1,271,257

COGS

$326,272

$362,246

Tax

$0

$0

 

 

Net Income

$115,365

$110,526

Summary Balance Sheet

FY 2022 FY 2021

Cash

$71,949

$85,443

Accounts Receivable

$-146,717

$-146,717

Total Assets

$167,090

$223,638

Short-Term Debt

$-191,440

$-84,226

Long-Term Debt

$408,147

$422,713

Total Liabilities

$216,707

$338,487

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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
11/30/2023 SMBX - $37,020 Debt Funded RegCF
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Saucy Asian on SMBX 2023
Platform: SMBX
Security Type: Debt

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

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