The Spice Route Company
Growth Stage
Globally famed, recognized, destination based high revenue model restaurants
Analytics
Raised: $90,900
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
Active
Reporting Date
01/16/2022
Days Remaining
31
% of Min. Goal
182%
% of Max. Goal
9%
Likelihood of Max
Avg. Daily Raise
$947
Momentum
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Location
Houston, Texas
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
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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