Scrap Connection, Inc.

Scrap Connection, Inc.

Early Stage

Business intelligence and trading tools for recycling industry professionals

Business intelligence and trading tools for recycling industry professionals

Overview

Raised to Date: Raised: $969,727

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/13/2016

Close Date

10/31/2017

Min. Goal
$50,000
Max. Goal
$750,000
Min. Investment

$100

Security Type

SAFE

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$4,000,000

Valuation Cap

$4,500,000

Discount

15%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

10/30/2017

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

$2,763

Momentum
Funded
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Year Founded

2012

Industry

Industrial Services

Tech Sector

MarketplaceTech

Location

Lewes, Delaware

Scrap Connections, with a valuation of $4.5 million, is raising funds on Wefunder. The company has developed market intelligence and trading tools for recycling industry professionals. The platform aims to undertake scrap trade with efficiencies generated through market prices, news, documentation tools, business intelligence, and financial services. Scrap Connections has sold $10 million of scrap metal to date through its marketplace and has had over 1,000 companies join in the last two years. Chris Yerbey founded Scrap Connections in July 2012. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $750,000. The campaign proceeds will be used for paying critical business development costs, further product development, and hiring.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,684

$4,920

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-88

$2,853

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$3,307

$4,499

Accounts Receivable

$2,668

$0

Total Assets

$295,156

$260,812

Short-Term Debt

$332,753

$250,795

Long-Term Debt

$367,185

$332,753

Total Liabilities

$699,938

$583,548

Financials as of: 11/13/2016
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Tradefox 04/28/2024 Wefunder $30,000,000 $297,509 SAFE Active RegCF
Scrap Connection, Inc. 08/30/2020 Wefunder $7,000,000 $293,506 SAFE Funded RegCF
Scrap Connection, Inc. 10/30/2017 Wefunder $4,500,000 $969,727 SAFE Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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Scrap Connections on Wefunder 2017
Platform: Wefunder
Security Type: SAFE
Valuation: $4,500,000

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