Groomit

Neutral
BETA

Groomit is an on-demand platform that connects pet owners with pet stylists.

Analytics

Raised to Date: $208,044

Aggregate Commitments $
Platform

Wefunder

Start Date

09/01/2020

Close Date

02/20/2021

Min. Goal

$200,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$7,000,000

Discount Rate

0%

Weekly Commitments $
Status

Active

Reporting Date

01/17/2021

Days Remaining

32

% of Min. Goal

104%

% of Max. Goal

19%

Likelihood of Max
Avg. Daily Raise

$1,508

# of Investors

86

Momentum
Location

Yonkers, New York

Industry

Pet Health, Food, and Services

Tech Sector

MarketplaceTech

Distribution Model

B2B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

Groomit, with a $7 million valuation cap, is raising funds on Wefunder. It is an on-demand platform that connects pet owners with pet stylists. The platform offers same-day pet grooming bookings with customizable packages. The experience is personalized and safe, connected with an extensive network of certified groomers. Sohel Kapadia founded Groomit in January 2020 and has raised over $2.4 million since its inception. The proceeds of the current crowdfunding campaign, with a minimum raise of $200,000 and a maximum raise of $1,070,000, will be used for software development, hiring talent, and marketing and growth. Groomit has over 20,000 users and has completed more than 12,000 groomings. The company generated $1.5 million in revenue in the NY market and is easily scalable to major metro cities.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$596,470

$0

COGS

$483,289

$0

Tax

$9,762

$0

 

 

Net Income

$-933,072

$0

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$49,345

$0

Accounts Receivable

$1,071

$0

Total Assets

$112,846

$0

Short-Term Debt

$1,903,303

$0

Long-Term Debt

$0

$0

Total Liabilities

$1,903,303

$0

Ratings

last updated 01/19/2021

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