Boaz Bikes (2021)
About this raise
Boaz Bikes, with a valuation cap of $40 million, is raising crowdfunding on Wefunder. 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. Emil I NNANI and Cory Smith founded Boaz Bike in 2018. The current crowdfunding round has a minimum raise of $125,000 and a maximum raise of $1,070,000. The funds will be used for the purchase of 1,000 more bikes, expansion into five cities, insurance, marketing, and paying for and shipping back 300 additional bikes. Boaz Bike has reported zero accidents in over 20,000 trips and has three city permits. The company currently has three city permits and plans to operate in over ten cities by the end of 2021.
Investment Overview
Invested : $1,216,270
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 05/17/2021
- Close Date
- 09/03/2021
$125,000
$3,000,000
$250
SAFE
Early Stage
RegCF
$35,000,000
$40,000,000
20%
Company & Team
Company
- Year Founded
- 2018
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2C
- Margin
- Medium
- Capital Intensity
- High
Financials
-
Revenue
- $130,979
- Monthly Burn
- $9,339
-
Runway
- 1.3 months
- Gross Margin
- 89%
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Company Funding & Growth
Funding history
| 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.