Swell Watercraft
Early Stage
the Future of Roto Molding and Small Boats
Overview
Raised: $167,787
Total Commitments ($USD)
Platform
Wefunder
Start Date
04/03/2022
Close Date
07/31/2022
Min. Goal
$50,000
Max. Goal
$1,000,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$8,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
07/31/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,422
# of Investors
89
Momentum
Funded
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Year Founded
2016
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Swell Watercraft, with a valuation of $8 million, is raising funds on Wefunder. The company is revolutionizing kayaking with its first-of-its-kind kayak. The kayak of Swell Watercraft is sit-on-top with footwells lowered below the waterline, a patent-pending scupper valve, and light and indestructible kayak shell. Swell Watercraft is already a cash flow positive business and expects to grow at a CAGR of 70% from 2022 to 2024. Jim Marsh founded Swell Watercraft in October 2016. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,000,000. The campaign proceeds will be used for manufacturing scupper 16 kayak, rotomolding machines and equipment, operations, sales and marketing, and shipping.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$282,472 |
$158,487 |
|
COGS |
$215,806 |
$118,146 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-79,183 |
$-71,650 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$18,443 |
$5,840 |
|
Accounts Receivable |
$0 |
$10,455 |
|
Total Assets |
$94,616 |
$89,844 |
|
Short-Term Debt |
$86,683 |
$14,018 |
|
Long-Term Debt |
$14,116 |
$0 |
|
Total Liabilities |
$100,799 |
$14,018 |
Financials as of: 04/03/2022
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