Spinn

Spinn

Growth Stage

Building the future of coffee

Building the future of coffee

Overview

Raised to Date: Raised: $1,344,187

Total Commitments ($USD)

Platform

Wefunder

Start Date

07/13/2023

Close Date

04/29/2024

Min. Goal
$50,000
Max. Goal
$1,235,000
Min. Investment

$100

Security Type

SAFE

Series

Series B

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

Uncapped

Discount

20%

Rolling Commitments ($USD)

Status

Active

Reporting Date

09/26/2023

Days Remaining

216

% of Min. Goal

2,688%

% of Max. Goal

109%

Likelihood of Max
exceeded
Avg. Daily Raise

$17,922

# of Investors

802

Momentum
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Year Founded

2015

Industry

Food, Beverage, & Restaurants

Tech Sector

Foodtech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

Low

Location

SAN FRANCISCO, California

Business Type

Growth

Spinn is raising funds on Wefunder. The company has developed a connected ecosystem for exceptional specialty coffee. The business aims to elevate the in-home coffee experience with its easy-to-use and sustainable coffee brewing options. Spinn’s coffee maker uses proprietary technology that uses a unique centrifugal brewing process to extract the flavor and aroma of coffee beans and does not create waste. Roderick de Rode founded Spinn in March 2015. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $400,000. The campaign proceeds will be used for inventory financing, customer acquisition, and operations.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$9,375,178

$4,101,403

COGS

$7,338,177

$5,389,008

Tax

$21,381

$-24,894

 

 

Net Income

$-8,948,990

$-12,272,796

Summary Balance Sheet

FY 2022 FY 2021

Cash

$3,515,008

$2,464,488

Accounts Receivable

$121,281

$0

Total Assets

$10,836,538

$12,452,787

Short-Term Debt

$9,641,175

$8,023,859

Long-Term Debt

$5,961,071

$0

Total Liabilities

$15,602,246

$8,023,859

Financials as of: 07/13/2023
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Spinn on Wefunder 2023
Platform: Wefunder
Security Type: SAFE

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