Volcanic Retail
Early Stage
Revolutionizing retail by streamlining two-way communication for brands & stores
Overview
Raised: $185,400
Total Commitments ($USD)
Platform
Wefunder
Start Date
05/24/2023
Close Date
09/19/2023
Min. Goal
$50,000
Max. Goal
$5,000,000
Min. Investment
$200
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$26,820,000
Valuation Cap
$29,800,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
09/29/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,585
# of Investors
68
Momentum
Funded
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Year Founded
2020
Industry
Retail Shops & Department Stores
Tech Sector
Retailtech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Volcanic Retail, with a valuation of $29.8 million, is raising funds on Wefunder. The company has developed a platform to streamline two-way communication between brands and retailers. The two-way messaging system fosters discovery and connections wherein brands get to market faster, and buyers get to review and compare price and quality. Volcanic Retail already features over 160,000 brands and has 6,000 registrations. Jeremy Brockbank founded Volcanic Retail in May 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $5 million. The campaign proceeds will be used for completing the development of the influencer portal, sales and marketing, research and development, and working capital.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,014,437 |
$-1,730,634 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$54,761 |
$36,924 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$918,699 |
$670,572 |
|
Short-Term Debt |
$1,160,983 |
$498,417 |
|
Long-Term Debt |
$300,000 |
$200,000 |
|
Total Liabilities |
$1,460,983 |
$698,417 |
Financials as of: 05/24/2023
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