FreightPal
A fully automated technology solution for shipping
Overview
Raised: $203,926
Rolling Commitments ($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
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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