Borrow

Borrow

Early Stage

The future of electric vehicle ownership

The future of electric vehicle ownership

Overview

Raised this Round: Raised: $176,462

Total Commitments ($USD)

Platform

Republic

Start Date

07/12/2020

Close Date

11/04/2020

Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment

$50

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$12,000,000

Discount

20%

Year Founded

2015

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

CommerceTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

West Hollywood, California

Business Type

High Growth

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.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$184,557

$141,695

COGS

$17,406

$8,024

Tax

$0

$0

 

 

Net Income

$-325,566

$-162,181

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$4,845

$46,494

Accounts Receivable

$685

$0

Total Assets

$432,696

$170,706

Short-Term Debt

$172,808

$55,020

Long-Term Debt

$803,585

$383,817

Total Liabilities

$976,393

$438,837

Financials as of: 07/12/2020
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Borrow on Republic
Platform: Republic
Security Type: SAFE
Valuation: $12,000,000

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