Overview
Raised: $113,471
Platform
Wefunder
Start Date
05/11/2017
Close Date
01/01/2018
Min. Goal
$50,000
Max. Goal
$1,000,000
Min. Investment
$100
Security Type
Debt
SEC Filing Type
RegCF
Year Founded
2019
Industry
Financial & Insurance Products & Services
Tech Sector
EnterpriseTech
Location
Beachwood, Ohio
Payroll4Free.com is raising funds on Wefunder. The company provides payroll services, specifically to small businesses. Payroll4Free.com helps in reducing the fees and charges associated with payroll services and makes them more affordable. Payroll4Free.com has thousands of happy clients across the country and is growing fast with a rapid acquisition rate. Carol Rosenberg founded Payroll4Free.com in May 2012. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1 million. The campaign proceeds will be used for sales and marketing, technology enhancement, hiring, expansion of support staff, and working capital.
Summary Profit and Loss Statement
| FY 2016 | FY 2015 | |
|---|---|---|
|
Revenue |
$71,803 |
$1,302 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-172,577 |
$-688,838 |
Summary Balance Sheet
| FY 2016 | FY 2015 | |
|---|---|---|
|
Cash |
$144,161 |
$77,210 |
|
Accounts Receivable |
$657 |
$0 |
|
Total Assets |
$144,818 |
$77,210 |
|
Short-Term Debt |
$144,806 |
$55,052 |
|
Long-Term Debt |
$1,622,253 |
$1,471,821 |
|
Total Liabilities |
$1,767,059 |
$1,526,873 |
Financials as of: 05/11/2017
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Payroll4Free.com | 09/20/2023 | Wefunder | $13,654,262 | $534,998 | Equity - Preferred | Funded | RegCF |
| Payroll4Free.com | 04/29/2021 | Wefunder | $10,700,000 | $326,318 | Equity - Common | Funded | RegCF |
| Payroll4Free.com | 12/31/2017 | Wefunder | - | $113,471 | Debt | Funded | RegCF |
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