Smart Tire Recycling

Neutral
BETA

Our company is turning a waste product into a lucrative commodity

Analytics

Raised to Date: $509,562

Aggregate Commitments $
Platform

Wefunder

Start Date

09/11/2020

Close Date

12/03/2020

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Equity - Preferred

Funding Type

RegCF

Series

Pre-Seed

Pre-Money Valuation

$2,500,000

Weekly Commitments $
Status
Funded
Reporting Date

12/31/2020

Days Remaining
Funded
% of Min. Goal

1,019%

% of Max. Goal

48%

Likelihood of Max
Funded
Avg. Daily Raise

$6,139

# of Investors

547

Momentum
Funded
Location

Pittsburgh, Pennsylvania

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Business Type

Growth

Smart Tire Recycling, with a pre-money valuation of $2.5 million, is raising funds on Wefunder. The company has developed a pioneering process to recycle tires into reusable materials. The tires are turned into their original components and are used to manufacture new tires and other products. Smart Tire Recycling was founded by Mendel Bassman in 2016 and has raised more than $400,000 since its founding. The current crowdfunding round has a minimum target of $50,000 and a maximum target of $249,998. The funds from the raise will be used for lab testing, hiring a full-time engineer, marketing, and working capital. Smart Tire Recycling aims at reducing landfill tires and healing the environment by cutting carbon dioxide emissions.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-93,109

$-122,616

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$5,740

$13,536

Accounts Receivable

$0

$0

Total Assets

$34,594

$23,620

Short-Term Debt

$76,631

$23,498

Long-Term Debt

$0

$0

Total Liabilities

$76,631

$23,498

Ratings

last updated 12/03/2020

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