Boaz Bikes (2023)
About this raise
Boaz Bikes, with a valuation of $19.5 million, is raising funds on StartEngine. It is an electric scooter-sharing company focused on safety. The scooters have a state-of-the-art design and come with batteries that can be swapped out in less than a minute compared to taking scooters home to charge. Boaz Bikes’ revenues per ride surpassed its competitors’ in 2021, and year-over-year revenues grew 319%. Emil I NNANI and Cory Smith founded Boaz Bike in 2018. The current crowdfunding campaign has a minimum target of $9,998.76 and a maximum target of $3.8 million. The campaign proceeds will be used to expand in more cities and markets and grow the annual revenue.
Investment Overview
Invested : $155,799
Deal Terms
Total Commitments
- Platform
- StartEngine
- Start Date
- 11/01/2022
- Close Date
- 03/01/2023
$9,999
$3,799,996
$248
Equity - Common
Early Stage
RegCF
$1.94
$19,480,046
Company & Team
Company
- Year Founded
- 2018
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2C
- Margin
- High
- Capital Intensity
- High
Financials
- Revenue +341% YoY
- $576,970
- Monthly Burn
- Profitable
-
Cash on Hand
- $106,767
- Gross Margin
- 61%
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $1,553,770
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/29/2024 | Wefunder | $19,500,000 | $62,834 | Convertible Note | Funded | RegCF |
| 03/01/2023 | StartEngine | $19,480,046 | $155,799 | Equity - Common | Funded | RegCF |
| 07/28/2022 | StartEngine | $50,000,000 | $198,606 | Equity - Common | Funded | RegCF |
| 09/03/2021 | Wefunder | $40,000,000 | $1,216,270 | SAFE | Funded | RegCF |
| 02/28/2021 | Wefunder | $15,000,000 | $653,244 | Convertible Note | Funded | RegCF |
Growth Charts
Revenue History
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.
Employee History
Company Updates
When I first talked with Emil in early 2022, his company already had better metrics than most of its competitors. In 2021, Boaz Bikes was profitable and had no reported accidents over its first 200,000 rides. Back then, it was a small startup with good potential. Now, its growth is what matters.