Simple Switch
Early Stage
Called "Amazon with a heart" by customers
Overview
Raised: $88,970
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/13/2022
Close Date
04/12/2023
Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$5,000,000
Valuation Cap
$6,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$494
# of Investors
178
Momentum
Funded
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Year Founded
2018
Industry
Consumer Products, Goods & Services
Tech Sector
MarketplaceTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Simple Switch, with a valuation of $6 million, is raising funds on Wefunder. It is an ethical online shopping platform with social and environmental impact. Simple Switch is also called ‘Amazon with a heart’ and makes conscious consumption simple for customers by being good for people and the planet. The platform sells over 4,000 sustainable and ethical products and works on B2B sales and consumer subscriptions with monthly recurring revenues. Rachel Kois founded Simple Switch in May 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for hiring, payroll, and digital marketing.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$26,541 |
$31,757 |
|
COGS |
$19,779 |
$26,996 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-12,049 |
$3,359 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$10,389 |
$30,970 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$10,389 |
$31,481 |
|
Short-Term Debt |
$6,540 |
$6,540 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$6,540 |
$6,540 |
Financials as of: 10/13/2022
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