Simple Switch

Simple Switch

Early Stage

Called "Amazon with a heart" by customers

Called "Amazon with a heart" by customers

Overview

Raised to Date: Raised: $88,970

Total Commitments ($USD)

Platform

Wefunder

Start Date

10/13/2022

Close Date

04/11/2023

Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

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

Location

Denver, Colorado

Business Type

Growth

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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Simple Switch on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $6,000,000

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