CityFreighter
Ultra Low-Floor, modular EV platform, purposefully built for urban logistics
Overview
Raised: $75,060
Total Commitments ($USD)
Platform
Wefunder
Start Date
05/01/2023
Close Date
04/29/2024
Min. Goal
$50,000
Max. Goal
$5,000,000
Min. Investment
$250
Security Type
SAFE
Series
Series A
SEC Filing Type
RegCF
Early Bird Val. Cap
$23,000,000
Valuation Cap
$28,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Active
Reporting Date
06/03/2023
Days Remaining
331
% of Min. Goal
150%
% of Max. Goal
2%
Likelihood of Max
Avg. Daily Raise
$2,275
# of Investors
74
Momentum
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Year Founded
2018
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
CommerceTech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
CityFreighter, with a valuation of $28 million, is raising funds on Wefunder. The company makes electric trucks with lower costs and a modular approach. The concept used by CityFreighter provides maximum flexibility and intelligent solutions for logistics companies. CityFreighter works on a unique modular system that helps to build different vehicle variations quickly and saves millions of dollars on development costs. The company is building strong collaborations with global partners and setting up CDK-micro-assembly factories in key global markets and aims to start production by Q3 2024. Michael Schoening founded CityFreighter in June 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $5 million. The campaign proceeds will be used for designing the gamma chassis and other operational costs.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-255,932 |
$-1,375,177 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$379 |
$742 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$1,051,034 |
$490,548 |
|
Short-Term Debt |
$434,414 |
$188,948 |
|
Long-Term Debt |
$30,309 |
$30,309 |
|
Total Liabilities |
$464,723 |
$219,257 |
Financials as of: 05/01/2023
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| CityFreighter | 04/29/2024 | Wefunder | $28,000,000 | $75,060 | SAFE | Active | RegCF |
| CityFreighter | 03/24/2021 | Wefunder | $7,500,000 | $643,304 | SAFE | Funded | RegCF |
| CityFreighter | 04/08/2019 | StartEngine | $5,000,000 | $105,100 | Equity - Common | Funded | RegCF |
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