Boaz Bikes

Boaz Bikes

Early Stage

Electric shared scooter company that is focused on SAFETY!

Electric shared scooter company that is focused on SAFETY!

Overview

Raised this Round: Raised: $1,233,876

Total Commitments ($USD)

Platform

Wefunder

Start Date

05/16/2021

Close Date

09/03/2021

Min. Goal
$125,000
Max. Goal
$3,000,000
Min. Investment

$250

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$35,000,000

Valuation Cap

$40,000,000

Discount

20%

Year Founded

2018

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Detroit, Michigan

Business Type

Growth

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.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$130,979

$36,466

COGS

$13,791

$0

Tax

$1,862

$18,000

 

 

Net Income

$-112,063

$-345,144

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$12,221

$2,167

Accounts Receivable

$0

$0

Total Assets

$410,950

$151,867

Short-Term Debt

$0

$0

Long-Term Debt

$377,000

$337,500

Total Liabilities

$377,000

$337,500

Financials as of: 05/16/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Boaz Bikes 04/28/2024 Wefunder $19,500,000 $62,834 Convertible Note Funded RegCF
Boaz Bikes 02/28/2023 StartEngine $19,480,046 $155,799 Equity - Common Funded RegCF
Boaz Bikes 07/27/2022 StartEngine $50,000,000 $198,606 Equity - Common Funded RegCF
Boaz Bikes 09/02/2021 Wefunder $40,000,000 $1,233,876 SAFE Funded RegCF
Boaz Bikes 02/27/2021 Wefunder $15,000,000 $930,934 Convertible Note Funded RegCF
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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

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Boaz Bikes on Wefunder 2021
Platform: Wefunder
Security Type: SAFE
Valuation: $40,000,000

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