Car Savior
About this raise: Car Savior, with a valuation cap of $3.8 million, is raising crowdfunding on MicroVentures. It is an online car repair marketplace that makes car repairs faster, more convenient, and easier. The users can describe their problems through a questionnaire on the Car Savior website, and the diagnostic algorithm of the platform determines the most likely problem. Car Savior was founded by Christiaan Best and Hayden Luckadoo in 2017 and has raised about $270,000 since its founding. The current round of crowdfunding of the company has a minimum goal of $50,000 and a maximum goal of $250,000, and the proceeds will be used for campaign marketing, general marketing, research and development, future wages, and general working capital. Car Savior has diagnosed more than 6,500 vehicles to date, and the bookings increased by 23.75% in the first five months of 2020, compared to the same period in 2019.
Investment Overview
Not Funded: $0
Deal Terms
Total Commitments ($USD)
- Platform
- Microventures
- Start Date
- 08/17/2020
- Close Date
- 02/10/2021
$50,000
$250,000
$100
Convertible Note
Seed
RegCF
$3,000,000
20%
Company & Team
Company
- Year Founded
- 2017
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- C2C
- Margin
- Medium
- Capital Intensity
- Low
Team
- Employees
- 3
Financials
- Revenue +360% YoY
- $227,254
- Monthly Burn
- $12,948
-
Runway
- 3.1 months
- Gross Margin
- 32%
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Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 02/10/2021 | Microventures | $3,000,000 | $0 | Convertible Note | Not Funded | RegCF |