Wearwell

Wearwell

Early Stage

Consciously made clothing, curated just for you

Consciously made clothing, curated just for you

Overview

Raised to Date: Raised: $104,434

Total Commitments ($USD)

Platform

Republic

Start Date

02/18/2020

Close Date

09/30/2020

Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

SAFE

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$8,000,000

Discount

10%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

09/29/2020

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$466

# of Investors

211

Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded

2020

Industry

Apparel & Fashion

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

High

Capital Intensity

High

Location

Philadelphia, Pennsylvania

Business Type

Growth

Wearwell, with a valuation cap of $8 million, is raising funds on Republic. It provides a unique subscription service that helps users buy sustainable and ethically-made clothing. Wearwell sends a selection of products monthly to the users in a digital form, and they can purchase the ones they like through the Wearwell platform. The company was founded by Erin Houston and Emily Kenney in January 2020 and raised $200,000 in its pre-seed round of funding. The current crowdfunding round has a minimum target of $25,000 and a maximum target of $1,070,000, and the funds will be used to scale up the business. Wearwell currently has over 500 monthly members and a retention rate of 96%. The company has experienced a 20% growth in membership month-over-month and is on track to reach $17 million in revenues by 2022.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$46,258

$60,832

COGS

$37,514

$24,227

Tax

$0

$0

 

 

Net Income

$-66,667

$6,845

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$19,857

$20,963

Accounts Receivable

$677

$0

Total Assets

$52,007

$55,453

Short-Term Debt

$53,309

$32,055

Long-Term Debt

$55,967

$0

Total Liabilities

$109,276

$32,055

Financials as of: 02/18/2020
Create a free account today to gain access to KingsCrowd analytics.

Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Wearwell, a Series of Jason’s Syndicate 04/04/2022 The Syndicate - $160,000 Equity - Common Funded RegD 506(b)
Wearwell 09/29/2020 Republic $8,000,000 $104,434 SAFE Funded RegCF
Create a free account today to gain access to KingsCrowd analytics.

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Ratings KingsCrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.
Add to portfolio
Wearwell on Republic
Platform: Republic
Security Type: SAFE
Valuation: $8,000,000

Follow company

Follow Wearwell on Republic

Buy Wearwell's Deal Report

Warning: according to the close date for this deal, Wearwell may no longer be accepting investments.

Wearwell Deal Report

Get KingsCrowd’s comprehensive report on Wearwell including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Wearwell is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the Wearwell deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge