Upshift

Redefining car ownership for urban living
Analytics
Raised to Date: $637,130
Aggregate Commitments $
Republic
12/02/2019
03/18/2021
$25,000
$1,070,000
$100
SAFE
RegCF
Seed
$8,000,000
20%
Weekly Commitments $
Active
01/20/2021
55
2,549%
60%
$1,535
2,826
Transportation, Automotive, Aviation, & Aerospace
MarketplaceTech
B2C
High
High
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 |
Analyst Report
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