Upshift

Deal To Watch
BETA

Redefining car ownership for urban living

Analytics

Raised to Date: $493,970

Aggregate Commitments $
Platform

Republic

Start Date

12/02/2019

Close Date

03/18/2021

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$8,000,000

Discount Rate

20%

Weekly Commitments $
Status

Active

Reporting Date

10/25/2020

Days Remaining

142

% of Min. Goal

1,976%

% of Max. Goal

46%

Likelihood of Max
Avg. Daily Raise

$1,506

# of Investors

2,395

Momentum
Location
Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

MarketplaceTech

Distribution Model

B2C

Margin

High

Capital Intensity

High

Business Type

High Growth

Upshift, with a valuation cap of $8 million, is raising funds on Republic. The company offers fractional car leasing services to drivers who need cars for short distances and short duration, without the friction of owning cars. Users can request for cars at the notice as short as 30 minutes, and they will receive clean cars with full tanks at their doorstep. Upshift also allows users to subscribe to their services and receive cars on designated days regularly. The company was founded by Ezra Goldman and Ayako Hiwasa in October 2012 and is live in San Francisco. The current crowdfunding round has a minimum target of $25,000 and a maximum target of $1,070,000, and the proceeds will be used for technology development, marketing, operations, and other costs. Upshift has already reported solid financials with the customer acquisition cost of $157, a lifetime value of $4,842, and 94% paid subscriber retention rate.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$64,847

$55,115

COGS

$293,429

$98,706

Tax

$0

$0

 

 

Net Income

$-233,213

$-48,692

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$77,126

$32,429

Accounts Receivable

$0

$0

Total Assets

$141,625

$49,803

Short-Term Debt

$12,098

$4,068

Long-Term Debt

$407,439

$0

Total Liabilities

$419,537

$90,914

Ratings

last updated 10/27/2020

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Analyst Report

Deal To Watch
Ratings Platform - Beta Trial

Our new ratings and analytics platform is currently in Beta. To gain access to the Beta platform features, upgrade to a Pro paid account and accept the Beta terms on any page.

For a limited time, use coupon code "TRYMERLIN20" for a free 20 day trial of Kingscrowd Pro and Merlin Beta. Your paid subscription will activate at the end of 20 days. Cancel anytime.
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