Boaz Bikes

Growth Stage

Electric shared scooter company that is focused on SAFETY!

Analytics

Raised to Date: Raised: $198,606

Aggregate Commitments $

Platform

StartEngine

Start Date

02/23/2022

Close Date

07/28/2022

Min. Goal

$10,000

Max. Goal

$3,783,715

Min. Investment

$250

Security Type

Equity - Common

Funding Type

RegCF

Series

Seed

Price Per Share

$5.00

Pre-Money Valuation

$50,000,000

Rolling Commitments $

Status
Funded
Reporting Date

07/31/2022

Days Remaining
Funded
% of Min. Goal

1,986%

% of Max. Goal

5%

Likelihood of Max
Funded
Avg. Daily Raise

$1,281

Momentum
Funded
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Location

Detroit, Michigan

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

Boaz Bikes, with a valuation of $50 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 $10,000 and a maximum target of $3,783,715. The campaign proceeds will be used to expand in more markets and become operable in over 20 cities with permits issued in more than 30 markets.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$130,979

$113,661

COGS

$30,672

$19,175

Tax

$0

$0

 

 

Net Income

$-32,245

$11,650

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$24,899

$16,257

Accounts Receivable

$0

$0

Total Assets

$529,007

$302,064

Short-Term Debt

$0

$0

Long-Term Debt

$549,602

$290,414

Total Liabilities

$549,602

$290,414

Financials as of: 02/23/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Boaz Bikes 07/28/2022 StartEngine $50,000,000 $198,606 Equity - Common Funded RegCF
Boaz Bikes 09/03/2021 Wefunder $40,000,000 $1,233,876 SAFE Funded RegCF
Boaz Bikes 02/28/2021 Wefunder $15,000,000 $930,934 Convertible Note Funded RegCF
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Boaz Bikes on StartEngine 2022
$
Platform: StartEngine
Security Type: Equity - Common
Valuation: $50,000,000
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