Car Savior

Neutral
BETA

Online car repair marketplace with repairs worth more than $269,799 booked through the platform

Analytics

Raised to Date: $9,901

Aggregate Commitments $
Platform

Microventures

Start Date

08/17/2020

Close Date

09/28/2020

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Seed

Valuation Cap

$3,000,000

Discount Rate

20%

Weekly Commitments $
Status
Funded
Reporting Date

09/30/2020

Days Remaining
Funded
% of Min. Goal

20%

% of Max. Goal

4%

Likelihood of Max
Funded
Avg. Daily Raise

$236

# of Investors

29

Momentum
Funded
Location

Austin, TX

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

MarketplaceTech

Distribution Model

C2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

Car Savior, with a valuation cap of $3.8 million, is raising crowdfunding on MicroVentures. It is an online car repair marketplace that makes car repairs faster, more convenient, and easier. The users can describe their problems through a questionnaire on the Car Savior website, and the diagnostic algorithm of the platform determines the most likely problem. Car Savior was founded by Christiaan Best and Hayden Luckadoo in 2017 and has raised about $270,000 since its founding. The current round of crowdfunding of the company has a minimum goal of $50,000 and a maximum goal of $250,000, and the proceeds will be used for campaign marketing, general marketing, research and development, future wages, and general working capital. Car Savior has diagnosed more than 6,500 vehicles to date, and the bookings increased by 23.75% in the first five months of 2020, compared to the same period in 2019.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$227,254

$49,451

COGS

$155,038

$43,582

Tax

$0

$0

 

 

Net Income

$-155,371

$-93,227

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$39,531

$111,746

Accounts Receivable

$0

$0

Total Assets

$39,531

$111,746

Short-Term Debt

$19,477

$16,321

Long-Term Debt

$271,000

$0

Total Liabilities

$290,477

$207,321

Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
09/28/2020 Microventures $3,000,000 $9,901 Convertible Note Confirmed Closed RegCF
08/16/2020 Microventures $3,800,000 $108,000 Convertible Note Confirmed Closed RegCF

Ratings

last updated 10/11/2020

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