The Spice Route Company

Growth Stage

Globally famed, recognized, destination based high revenue model restaurants

Analytics

Raised to Date: Raised: $92,100

Aggregate Commitments $

Platform

Wefunder

Start Date

10/12/2021

Close Date

02/16/2022

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Seed

Valuation Cap

$20,000,000

Discount Rate

20%

Rolling Commitments $

Status
Funded
Reporting Date

02/28/2022

Days Remaining
Funded
% of Min. Goal

184%

% of Max. Goal

9%

Likelihood of Max
Funded
Avg. Daily Raise

$725

Momentum
Funded
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Location

Houston, Texas

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

The Spice Route Company, with a valuation of $20 million, is raising funds on Wefunder. The company originated in Nigeria and runs several successful restaurants in Africa. The business has recently entered the United States and plans to open Indian restaurant concepts with a specific thesis. The first restaurant of The Spice Route Company is called Musaafer that depicts the journey through the culinary landscape of India. Gurpreet Malik and Guneet Malik founded The Spice Route Company in August 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for interior buildout, construction, furniture, fixtures, concept development, and planning.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,962,282

$0

COGS

$1,382,572

$0

Tax

$0

$0

 

 

Net Income

$-2,020,790

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$586,345

$510,052

Accounts Receivable

$815,135

$0

Total Assets

$7,929,638

$6,079,755

Short-Term Debt

$1,433,434

$0

Long-Term Debt

$2,962,736

$1,225,000

Total Liabilities

$4,396,170

$1,225,000

Financials as of: 10/12/2021
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The Spice Route Company on Wefunder 2021
$
Platform: Wefunder
Security Type: Convertible Note
Valuation: $20,000,000

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