Boaz Bike

Neutral
BETA

Electric shared scooter company that is focused on SAFETY!

Analytics

Raised to Date: $54,812

Aggregate Commitments $
Platform

Wefunder

Start Date

08/20/2020

Close Date

12/02/2020

Min. Goal

$125,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Seed

Valuation Cap

$15,000,000

Discount Rate

10%

Weekly Commitments $
Status

Active

Reporting Date

09/16/2020

Days Remaining

74

% of Min. Goal

44%

% of Max. Goal

5%

Likelihood of Max
Avg. Daily Raise

$2,030

# of Investors

115

Momentum
Location

Detroit, MI

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Growth

Boaz Bike, with a valuation cap of $15 million, is raising crowdfunding on Wefunder. It is an electric scooter sharing company focused on safety. The scooters have state-of-the-art design and come with batteries that can be swapped out in less than a minute compared to taking scooters home to charge. Emil I NNANI and Cory Smith founded Boaz Bike in 2018 and have raised over $280,000 since the inception. The current crowdfunding round has a minimum raise of $125,000 and a maximum raise of $1,070,000. The funds will be used for the purchase of 1,000 more bikes, expansion into five cities, insurance, marketing, and paying for and shipping back 300 additional bikes. Boaz Bike has reported zero accidents in over 20,000 trips and has three city permits. The company generated $26,000 monthly revenue in June 2020, $32,000 in July 2020, and expects to generate over $50,000 in August 2020.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$36,466

$0

COGS

$0

$0

Tax

$18,000

$0

 

 

Net Income

$-291,057

$0

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$0

$0

Accounts Receivable

$0

$0

Total Assets

$56,943

$0

Short-Term Debt

$75,000

$0

Long-Term Debt

$0

$0

Total Liabilities

$75,000

$0

Ratings

last updated 09/16/2020

Research

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