Tradefox (2024)

About this raise

Tradefox, with a valuation of $30 million, is raising funds on Wefunder. The company connects recycling industry professionals and provides them with trading tools and business intelligence. Tradefox generates Trade Reputation Reports for the companies to give details about the reliability of the companies. It has 6,000 members from 183 countries with an average year-over-year increase of 65% and has been used to review more than 136,000 buyer-seller transactions. Chris Yerbey founded Tradefox in July 2012. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $618,000. The campaign proceeds will be used for paying critical business development costs, tech development, and trade show budgets to expand reach in the global recycling trade.

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Investment Overview

Invested this round: $311,509

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
04/17/2023
Close Date
04/29/2024
Min. Goal
$100,000
Max Goal
$618,000
Min. Investment

$500

Security Type

SAFE

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$27,500,000

Valuation Cap

$30,000,000

Discount

5%

Company & Team

Company

Year Founded
2012
Industry
Industrial Services
Tech Sector
MarketplaceTech
Distribution Model
B2B
Margin
High
Capital Intensity
Low
Location
Lewes, Delaware
Business Type
High Growth
Company Website
Visit Website

Team

Employees
12
Prior Founder Exits?
Yes
Founder Name
Chris Yerbey
Title
CEO

Financials

 Revenue +4,373% YoY
$0
as of FY2022
 Monthly Burn
$66,967
as of FY2022
 Runway
0.2 months
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$4,373

$10,036

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-803,608

$-618,515

Summary Balance Sheet

FY 2022 FY 2021

Cash

$12,394

$22,173

Accounts Receivable

$0

$0

Total Assets

$284,561

$280,174

Short-Term Debt

$247,246

$323,364

Long-Term Debt

$57,064

$0

Total Liabilities

$304,310

$323,364

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$3,481,485
VC Backed?
No
Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Tradefox 04/29/2024 Wefunder $30,000,000 $311,509 SAFE Funded RegCF
Scrap Connection, Inc. 08/31/2020 Wefunder $7,000,000 $293,506 SAFE Funded RegCF
Scrap Connection, Inc. 10/31/2017 Wefunder $4,500,000 $969,727 SAFE Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Employee History

Company Updates

In 2020, KingsCrowd rated Tradefox’s Wefunder raise a Deal to Watch and gave it a five-star rating. In its new raise on Wefunder, Tradefox (formerly known as Scrap Connection) has broadened its mission from protecting buyers of recyclables to protecting the planet. Tradefox’s new emphasis on the environment is less of a pivot and more of an attempt to place the company’s services in a broader global perspective that puts the planet’s health front and center.

But why? And why now?

View Company Update

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Add to portfolio
Tradefox on Wefunder 2023
Platform: Wefunder
Security Type: SAFE
Valuation: $30,000,000

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Warning: according to the close date for this deal, Tradefox may no longer be accepting investments.

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