FreightPal (2022)

FreightPal (2022)

About this raise

FreightPal, with a valuation of $7.5 million, is raising funds on Republic. The company has developed a fully automated technology solution for shipping. The technology connects and automates freight logistics by comparing price quotes, booking, tracking, managing, and making bill and shipment payments online with all major integrated carriers. FreightPal has over 200 customers, including GlobalTranz and Old Dominion Freight Line, and has reported $10 million in combined revenue since 2017. Michael Rasmussen founded FreightPal in February 2013. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used for technology, product development, sales and marketing, and working capital.

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Investment Overview

Invested this round: $203,926

Deal Terms

Total Commitments

Platform
Republic
Start Date
02/18/2022
Close Date
04/14/2022
Min. Goal
$25,000
Max Goal
$1,070,000
Min. Investment

$100

Security Type

SAFE

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$7,500,000

Discount

0%

Company & Team

Company

Year Founded
2013
Industry
Logistics, Delivery, & Supply Chain
Tech Sector
AutomationTech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Location
Studio City, California
Business Type
Growth
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
Yes
Founder Name
Michael Rasmussen
Title
Chairman

Financials

 Revenue -19.8% YoY
$2,619,304
 Monthly Burn
$12,479
 Runway
10.8 months
 Gross Margin
17%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,619,304

$3,267,054

COGS

$2,168,149

$2,700,101

Tax

$3,529

$1,300

 

 

Net Income

$-149,753

$-186,286

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$135,063

$36,563

Accounts Receivable

$110,604

$276,317

Total Assets

$305,705

$379,048

Short-Term Debt

$561,774

$635,513

Long-Term Debt

$145,000

$0

Total Liabilities

$706,774

$635,513

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/14/2022 Republic $7,500,000 $203,926 SAFE Funded RegCF
04/26/2017 Self Managed - $735,000 Equity - Common Funded RegD 506(b)
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Growth Charts

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.

Valuation History

Employee History

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FreightPal on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $7,500,000

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