CityFreighter

Early Stage

Electric trucks with lower costs and faster time-to-market

Analytics

Raised to Date: Raised: $643,304

Aggregate Commitments $

Platform

Wefunder

Start Date

07/31/2020

Close Date

03/24/2021

Min. Goal

$50,000

Max. Goal

$535,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$7,500,000

Discount Rate

20%

Rolling Commitments $

Status
Funded
Reporting Date

03/31/2021

Days Remaining
Funded
% of Min. Goal

1,287%

% of Max. Goal

120%

Likelihood of Max
Funded
Avg. Daily Raise

$2,726

# of Investors

1,284

Momentum
Funded
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Location

Santa Barbara, California

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

CommerceTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Business Type

Growth

CityFreighter, with a $7.5 million valuation cap, 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. Michael Schoening founded CityFreighter in 2018 and has raised over $400,000 since its inception. The proceeds of the current crowdfunding round, with a minimum raise of $50,000 and a maximum raise of $535,000, will be used to start building the prototype chassis. 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 starting in the largest key markets, the US and Europe.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$151,579

$33,545

Tax

$0

$0

 

 

Net Income

$-220,323

$-85,270

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$345

$0

Accounts Receivable

$0

$0

Total Assets

$57,511

$33,545

Short-Term Debt

$0

$100

Long-Term Debt

$0

$0

Total Liabilities

$0

$100

Financials as of: 07/31/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
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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CityFreighter on Wefunder
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Platform: Wefunder
Security Type: SAFE
Valuation: $7,500,000
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