Fly Ride

Fly Ride

Closed: Feb. 2023

About this raise

Fly Ride, with a valuation of $10 million, is raising funds on StartEngine. It is an electric scooter rental company that rents highly advanced electric scooters at affordable prices. The business encourages clean and carless cities and is working with cities and universities to offer its new transportation alternatives. Fly Ride is currently operational in Scottsdale, Arizona, and has a proven model in place to expand to new cities and neighborhoods. Andranik Andy Chivchyan founded Fly Ride in September 2022. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing, hiring, and adding more scooters.

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Investment Overview

Not Funded: $2,532

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
11/30/2022
Close Date
02/27/2023
Min. Goal
$10,000
Max Goal
$1,235,000
Min. Investment

$150

Security Type

Equity - Common

Company Stage

Early Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.00

Pre-Money Valuation

$10,000,000

Company & Team

Company

Year Founded
2022
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
MarketplaceTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Glendale, Arizona
Business Type
Growth
Company Website
Visit Website

Team

Employees
2
Prior Founder Exits?
No
Founder Name
Andy Chuvchyan
Title
CEO

Financials

 Revenue
$774
as of FY2021
 Monthly Burn
$718
as of FY2021
 Runway
0.1 months
as of FY2021
 Gross Margin
33%
as of FY2021

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$774

$171

COGS

$517

$0

Tax

$0

$0

 

 

Net Income

$-8,615

$9,401

Summary Balance Sheet

FY 2021 FY 2020

Cash

$77

$389

Accounts Receivable

$0

$0

Total Assets

$17,982

$8,778

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$100,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/27/2023 StartEngine $10,000,000 $2,532 Equity - Common Not Funded RegCF
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Add to portfolio
Fly Ride on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $10,000,000
Price per Share: $2.00

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Follow Fly Ride on StartEngine 2022

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Warning: according to the close date for this deal, Fly Ride may no longer be accepting investments.

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