Loop & Tie Inc. announced that their federal filing on financing information last week was incorrect. This was confirmed by company CEO, Sara Rodell.
The startup, based in Austin, said that the Monday filing indicates that they have collected an amount of $95,000 versus the $500,000 plan. The actual collection, as per Sara Rodell, is $105,000 from four capital investors.
Loop & Tie Inc. was launched in 2012. It has a total of five workers at the moment. Their revenue is being generated through the markup between wholesale and retail price. To date, it has collected $1.1 million in funding.