Wearwell

Wearwell

Early Stage

Consciously made clothing, curated just for you

Consciously made clothing, curated just for you

Overview

Raised this Round: Raised: $104,434

Total Commitments ($USD)

Platform

Republic

Start Date

02/18/2020

Close Date

09/30/2020

Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$8,000,000

Discount

10%

Year Founded

2020

Industry

Apparel & Fashion

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

High

Capital Intensity

High

Location

Philadelphia, Pennsylvania

Business Type

Growth

Wearwell, with a valuation cap of $8 million, is raising funds on Republic. It provides a unique subscription service that helps users buy sustainable and ethically-made clothing. Wearwell sends a selection of products monthly to the users in a digital form, and they can purchase the ones they like through the Wearwell platform. The company was founded by Erin Houston and Emily Kenney in January 2020 and raised $200,000 in its pre-seed round of funding. The current crowdfunding round has a minimum target of $25,000 and a maximum target of $1,070,000, and the funds will be used to scale up the business. Wearwell currently has over 500 monthly members and a retention rate of 96%. The company has experienced a 20% growth in membership month-over-month and is on track to reach $17 million in revenues by 2022.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$46,258

$60,832

COGS

$37,514

$24,227

Tax

$0

$0

 

 

Net Income

$-66,667

$6,845

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$19,857

$20,963

Accounts Receivable

$677

$0

Total Assets

$52,007

$55,453

Short-Term Debt

$53,309

$32,055

Long-Term Debt

$55,967

$0

Total Liabilities

$109,276

$32,055

Financials as of: 02/18/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Wearwell, a Series of Jason’s Syndicate 04/04/2022 The Syndicate - $160,000 Equity - Common Funded RegD 506(b)
Wearwell 09/29/2020 Republic $8,000,000 $104,434 SAFE Funded RegCF
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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

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Wearwell on Republic
Platform: Republic
Security Type: SAFE
Valuation: $8,000,000

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