Borrow
About this raise
Borrow, with a $12 million valuation cap, is raising crowdfunding on Republic. The company offers short-term electric vehicle leases, combined with industry expertise, customer service, and utility. The users get to access electric vehicle transportation without the long-term commitment, inflexibility, and high costs. Borrow was founded by Rodrigo de Guzman and Jon Alain Guzik in August 2015 and has raised over $1 million since its founding. The proceeds of the crowdfunding round, with a minimum target of $25,000 and a maximum target of $1,070,000, will be used to expand geographically and begin a digital and IRL scaling of reservations. Borrow has over 100 users to date and has reported a 125% week-over-week growth.
Investment Overview
Invested : $176,462
Deal Terms
Total Commitments
- Platform
- Republic
- Start Date
- 07/13/2020
- Close Date
- 11/04/2020
$25,000
$1,070,000
$50
SAFE
Early Stage
RegCF
$12,000,000
20%
Company & Team
Company
- Year Founded
- 2015
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2C
- Margin
- Medium
- Capital Intensity
- High
Financials
- Revenue +153% YoY
- $432,696
- Monthly Burn
- $27,131
-
Runway
- 0.2 months
- Gross Margin
- 91%
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 11/04/2020 | Republic | $12,000,000 | $176,462 | SAFE | Funded | RegCF |