Drifter Spirits- Avua Cachaca

Deal To Watch
BETA

Craft spirits brand portfolio company and sales engine for the US and Europe

Analytics

Raised to Date: $120,085

Aggregate Commitments $
Platform

Wefunder

Start Date

04/30/2020

Close Date

09/30/2020

Min. Goal

$20,000

Max. Goal

$500,000

Min. Investment

$250

Security Type

Convertible Note

Funding Type

RegCF

Series

Seed

Valuation Cap

$5,470,000

Discount Rate

0%

Weekly Commitments $
Status
Funded
Reporting Date

09/30/2020

Days Remaining
Funded
% of Min. Goal

600%

% of Max. Goal

24%

Likelihood of Max
Funded
Avg. Daily Raise

$785

# of Investors

78

Momentum
Funded
Location

Brooklyn, NY

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B2C

Margin

High

Capital Intensity

High

Business Type

Growth

Drifter Spirits- Avua Cachaca, with a valuation cap of $5.47 million, is raising funds on Wefunder. The company functions to use its key relationships with national distributors and top bars, restaurants, and hotels to market spirits. Avua Cachaca is the beloved spirit of Brazil and a leading brand marketed by  Drifter Spirits. The other brands in the portfolio of Drifter Spirits include Scandinavian botanical spirit Svol Aquavit and the Italian liquor range Gagliardo Bitter. Drifter Spirits- Avua Cachaca was founded by Peter Nevenglosky and Nathan Whitehouse in 2011 and has raised over $1.7 million since its inception. The current round of crowdfunding has a minimum raise of $20,000 and a maximum raise of $100,000, and the proceeds will be used to purchase inventory and withstand the challenges during the COVID pandemic. Drifter Spirits- Avua Cachaca distributes its spirits across 42 states in the US and generated revenue of $1.3 million in 2019.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$1,303,427

$1,349,152

COGS

$541,606

$467,299

Tax

$1,871

$529

 

 

Net Income

$-313,656

$49,289

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$37,434

$10,913

Accounts Receivable

$270,832

$131,335

Total Assets

$637,846

$445,452

Short-Term Debt

$667,799

$356,758

Long-Term Debt

$751,670

$0

Total Liabilities

$1,419,469

$1,021,419

Ratings

last updated 10/11/2020

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