Red Hat Coffee
Canned Oat Milk Lattes Co-Branded With Oatly
Analytics
Raised to Date: $50,300
Aggregate Commitments $
Platform
Wefunder
Start Date
03/29/2021
Close Date
04/30/2022
Min. Goal
$100,000
Max. Goal
$500,000
Min. Investment
$100
Security Type
SAFE
Funding Type
RegCF
Series
Series A
Valuation Cap
$5,000,000
Discount Rate
20%
Rolling Commitments $
Status
Active
Reporting Date
04/21/2021
Days Remaining
373
% of Min. Goal
50%
% of Max. Goal
10%
Likelihood of Max
Avg. Daily Raise
$2,187
Momentum
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Location
Austin, Texas
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Red Hat Coffee, with a valuation cap of $5 million, is raising crowdfunding on Wefunder. The company makes and sells canned oat-milk lattes, cobranded with Oatly. The coffee of Red Hat Coffee is gluten-free, low on calories, low on sugar, dairy-free, and made of all-natural ingredients. James Darenkamp and Ryan King founded Red Hat Coffee in 2016. The proceeds of the current crowdfunding round, with a minimum target of $100,000 and a maximum target of $500,000, will be used towards COGS, sales reps, and marketing. Red Hat Coffee reported revenue of $800,000 in 2020 and expects to generate between $1.3 million and $2.6 million in 2021.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$223,219 |
$95,515 |
|
COGS |
$97,772 |
$32,660 |
|
Tax |
$800 |
$800 |
| ||
| ||
|
Net Income |
$-122,293 |
$-37,360 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$2,178 |
$55,501 |
|
Accounts Receivable |
$7,567 |
$11,951 |
|
Total Assets |
$454,380 |
$312,535 |
|
Short-Term Debt |
$173,514 |
$84,680 |
|
Long-Term Debt |
$495,319 |
$320,015 |
|
Total Liabilities |
$668,833 |
$404,695 |
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