Fuchsia Shoes
Early Stage
Luxury shoes empowering artisans worldwide... One step at a time
Overview
Raised: $58,599
Total Commitments ($USD)
Platform
Wefunder
Start Date
03/01/2020
Close Date
04/29/2020
Min. Goal
$50,000
Max. Goal
$500,000
Min. Investment
$250
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$4,000,000
Discount
25%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/02/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,010
# of Investors
54
Momentum
Funded
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Year Founded
2016
Industry
Apparel & Fashion
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
Fuchsia Shoes, with a valuation cap of $4 million, is raising funds on WeFunder. The company makes handcrafted ballet flats that combine luxury shoes and the empowerment of artisans worldwide. The traditional designs are modified to meet the needs of American customers by adding rubber soles and soft padding. Fuchsia Shoes was founded by Afshan Abbas and Rameez Sajwani in 2016 and has raised over $60,000 in previous rounds of financing. The current crowdfunding round has a minimum goal of $100,000 and a maximum goal of $500,000, and the funds will be used towards growth, marketing, inventory, and hiring new staff members. Fuchsia Shoes has already sold over 10,000 pairs of shoes, with a 25% repeat purchase rate within 30 days.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$129,750 |
$119,093 |
|
COGS |
$68,098 |
$72,178 |
|
Tax |
$0 |
$1,211 |
| ||
| ||
|
Net Income |
$-56,946 |
$-68,839 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$15,021 |
$15,985 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$26,521 |
$27,485 |
|
Short-Term Debt |
$106,398 |
$82,402 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$106,398 |
$82,402 |
Financials as of: 03/01/2020
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