Boaz Bikes

Early Stage

Electric shared scooter company that is focused on SAFETY!

Analytics

Raised to Date: Raised: $1,233,876

Aggregate Commitments $

Platform

Wefunder

Start Date

05/17/2021

Close Date

09/03/2021

Min. Goal

$125,000

Max. Goal

$3,000,000

Min. Investment

$250

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$40,000,000

Discount Rate

20%

Rolling Commitments $

Status
Funded
Reporting Date

09/30/2021

Days Remaining
Funded
% of Min. Goal

987%

% of Max. Goal

41%

Likelihood of Max
Funded
Avg. Daily Raise

$11,320

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 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: 05/17/2021
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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 Wefunder 2021
$
Platform: Wefunder
Security Type: SAFE
Valuation: $40,000,000
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