CityFreighter

CityFreighter

Early Stage

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

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

Overview

Raised to Date: Raised: $648,642

Total Commitments ($USD)

Platform

Wefunder

Start Date

07/30/2020

Close Date

03/24/2021

Min. Goal
$50,000
Max. Goal
$535,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$7,500,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

03/30/2021

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$2,748

# of Investors

1,284

Momentum
Funded
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Year Founded

2018

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

CommerceTech

Distribution Model

B2B

Margin

Medium

Capital Intensity

High

Location

Santa Barbara, California

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: 07/30/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
CityFreighter 07/29/2024 Wefunder $28,000,000 $124,610 SAFE Active RegCF
CityFreighter 03/23/2021 Wefunder $7,500,000 $648,642 SAFE Funded RegCF
CityFreighter 04/07/2019 StartEngine $5,000,000 $105,100 Equity - Common Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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CityFreighter on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $7,500,000

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