FreightPal

Growth Stage

A fully automated technology solution for shipping

Overview

Raised to Date: Raised: $203,926

Total Commitments ($USD)

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

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$7,500,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/30/2022

Days Remaining
Funded
% of Min. Goal

816%

% of Max. Goal

19%

Likelihood of Max
Funded
Avg. Daily Raise

$3,708

# of Investors

543

Momentum
Funded
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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

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.

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
Financials as of: 02/18/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
FreightPal 04/14/2022 Republic $7,500,000 $203,926 SAFE Funded RegCF
FreightPal 04/26/2017 Self Managed - $0 Equity - Common Funded RegD 506(b)
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FreightPal on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $7,500,000

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