This company is no longer in business. Investors can get details about any potential exits or failures here.
CannTrade
Early Stage
eCommerce platform for cannabis and CBD products
Overview
Raised: $110,183
Total Commitments ($USD)
Platform
Microventures
Start Date
01/27/2020
Close Date
03/30/2020
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$6,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/30/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,777
# of Investors
461
Momentum
Funded
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Year Founded
2016
Industry
Alcohol, Tobacco, & Recreational Drugs
Tech Sector
CommerceTech
Distribution Model
B2B
Margin
High
Capital Intensity
Low
CannTrade, with a valuation cap of $6 million, is raising funds on MicroVentures. It is an e-commerce platform for hemp, cannabis, and other CBD products and aims to connect wholesale buyers and sellers of these products. The products that can be bought and sold on CannTrade include concentrates, flowers and preRolls, edibles and drinkables, tinctures, topicals, biomass, delivery systems, packaging material, gear and swag, and manufacturing equipment. CannTrade was founded by Adam Holub, Brian Holub, Andrew Harmon, and Jonathan Restelli in 2016. The proceeds of the current round of crowdfunding, with a minimum goal of $50,000 and a maximum goal of $1,070,000, will be used towards technological development, sales and support, marketing, working capital, and operations. CannTrade launched its full-featured platform in January 2020 and has over 1,330 businesses already registered on the platform.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$47,110 |
$99,256 |
|
COGS |
$126,740 |
$83,751 |
|
Tax |
$3,989 |
$1 |
| ||
| ||
|
Net Income |
$-83,619 |
$15,504 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$986 |
$81,247 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$986 |
$81,247 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 01/27/2020
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