Motobyo
Early Stage
Used Car Marketplace
Overview
Raised: $0
Total Commitments ($USD)
Platform
Netcapital
Start Date
04/17/2023
Close Date
06/28/2023
Min. Goal
$10,000
Max. Goal
$1,235,000
Min. Investment
$99
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.56
Pre-Money Valuation
$10,372,534
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
06/28/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2019
Industry
Consumer Products, Goods & Services
Tech Sector
MarketplaceTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Motobyo, with a valuation of $10.4 million, is raising funds on NetCapital. The company has developed a marketplace to connect used car buyers and sellers. The platform aims to eliminate waste in the used car industry and help buyers and sellers by maximizing their transaction value. Motobyo works on an asset-free business model, matches inventory supply to demand, and is based on transparency, safety, and access. George Lekas founded Motobyo in May 2019. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1.23 million. The campaign proceeds will be used for market expansion, IT systems development, hiring, salaries, and G&A expenses.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$5,545 |
$0 |
|
COGS |
$7,662 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,259,413 |
$-57,240 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$582,887 |
$30,330 |
|
Accounts Receivable |
$1,250 |
$0 |
|
Total Assets |
$6,677,610 |
$5,261,291 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 04/17/2023
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