SurfUp
Early Stage
Automated recreational equipment rental platform that launched its initial surfboard rental station in January '21
Overview
Raised: $36,672
Total Commitments ($USD)
Platform
Microventures
Start Date
03/02/2021
Close Date
08/02/2021
Min. Goal
$25,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
Convertible Note
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$2,000,000
Valuation Cap
$2,500,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/30/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$241
# of Investors
108
Momentum
Funded
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Year Founded
2019
Industry
Travel and Hospitality
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
SurfUp, with a $2.5 million valuation cap, is raising crowdfunding on MicroVentures. The company has developed a recreational equipment rental platform and started with surfboard rental in January 2021. The surfers can rent surfboards from the SurfUp app, pick them up from the rental stations, and experience the waves. Chris Hissom founded SurfUp in May 2019. The proceeds of the current crowdfunding campaign, with a minimum goal of $25,000 and a maximum goal of $250,000, will be used for manufacturing, research and development, marketing, app development, equipment, and legal expenses. SurfUp has applied for a provisional patent and is in the process of developing the automated platform.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$54 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$488 |
$0 |
| ||
| ||
|
Net Income |
$-5,946 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$18,203 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$18,707 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 03/02/2021
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