CityFreighter

Neutral
BETA

Electric trucks with lower costs and faster time-to-market

Analytics

Raised to Date: $228,383

Aggregate Commitments $
Platform

Wefunder

Start Date

07/31/2020

Close Date

02/14/2021

Min. Goal

$50,000

Max. Goal

$535,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$7,500,000

Discount Rate

20%

Weekly Commitments $
Status

Active

Reporting Date

11/25/2020

Days Remaining

80

% of Min. Goal

457%

% of Max. Goal

43%

Likelihood of Max
Avg. Daily Raise

$1,952

# of Investors

491

Momentum
Location

Santa Barbara, CA

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

CommerceTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Business Type

Growth

CityFreighter, with a $7.5 million valuation cap, is raising funds on Wefunder. The company makes electric trucks with lower costs and a modular approach.  The concept used by CityFreighter provides maximum flexibility and intelligent solutions for logistics companies. Michael Schoening founded CityFreighter in 2018 and has raised over $400,000 since its inception. The proceeds of the current crowdfunding round, with a minimum raise of $50,000 and a maximum raise of $535,000, will be used to start building the prototype chassis. CityFreighter works on a unique modular system that helps to build different vehicle variations quickly and saves millions of dollars on development costs. The company is building strong collaborations with global partners and starting in the largest key markets, the US and Europe.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$0

$0

COGS

$151,579

$33,545

Tax

$0

$0

 

 

Net Income

$-220,323

$-85,270

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$345

$0

Accounts Receivable

$0

$0

Total Assets

$57,511

$33,545

Short-Term Debt

$0

$100

Long-Term Debt

$0

$0

Total Liabilities

$0

$100

Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
02/14/2021 Wefunder $7,500,000 $228,383 SAFE Active RegCF
04/08/2019 StartEngine $5,000,000 $105,100 Equity - Common Confirmed Closed RegCF

Ratings

last updated 11/26/2020

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