About this raise
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.
Investment Overview
Invested : $104,434
Deal Terms
Total Commitments
- Platform
- Republic
- Start Date
- 02/19/2020
- Close Date
- 09/30/2020
$25,000
$1,070,000
$100
SAFE
Pre-Seed
RegCF
$8,000,000
10%
Company & Team
Company
- Year Founded
- 2020
- Industry
- Apparel & Fashion
- Tech Sector
- Distribution Model
- B2C
- Margin
- High
- Capital Intensity
- High
Financials
-
Revenue
- $56,258
- Monthly Burn
- $5,556
-
Runway
- 3.6 months
- Gross Margin
- 19%
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