NovoMoto

NovoMoto

Early Stage

Life-changing & Affordable Solar - A first-mover in off-grid areas of D.R. Congo

Life-changing & Affordable Solar - A first-mover in off-grid areas of D.R. Congo

Overview

Raised to Date: Raised: $420,186

Total Commitments ($USD)

Platform

Wefunder

Start Date

01/05/2020

Close Date

07/29/2020

Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

Convertible Note

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$4,500,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

08/01/2020

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$2,040

# of Investors

354

Momentum
Funded
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Year Founded

2015

Industry

Energy, Power, & Natural Resources

Tech Sector

Cleantech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Madison, Wisconsin

Business Type

Life Style

NovoMoto, with a valuation cap of $4.5 million, is raising funds on WeFunder. The company is a for-profit social enterprise providing affordable and clean electricity to off-grid communities in Africa. The electricity is provided through high-quality solar systems at a lower cost than other inferior solutions. NovoMoto was founded by Aaron Olson and Mehrdad Arjmand and has raised more than $450,000 since its founding. The proceeds of the current crowdfunding round, with a minimum goal of $50,000 and a maximum goal of $1,070,000, will be used for purchasing hardware and for operational costs like salaries and travel expenses of the team. NovoMoto has completed over 300 solar installations, with a 13% month-over-month growth since 2017.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$21,045

$10,904

COGS

$27,822

$5,907

Tax

$64

$6

 

 

Net Income

$-30,629

$-7,145

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$67,953

$29,792

Accounts Receivable

$26,441

$10,904

Total Assets

$147,604

$65,037

Short-Term Debt

$0

$0

Long-Term Debt

$204,473

$64,000

Total Liabilities

$204,473

$64,000

Financials as of: 01/05/2020
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NovoMoto on Wefunder
Platform: Wefunder
Security Type: Convertible Note
Valuation: $4,500,000

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