PADL

PADL

Early Stage

Self-serve paddle sport rentals

Self-serve paddle sport rentals

Overview

Raised this Round: Raised: $311,103

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/30/2021

Close Date

08/27/2022

Min. Goal
$49,999
Max. Goal
$4,999,998
Min. Investment

$100

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.27

Early Bird Valuation

$20,020,000

Pre-Money Valuation

$24,970,000

Year Founded

2017

Industry

Consumer Products, Goods & Services

Tech Sector

Retailtech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

Key Biscayne, Florida

Business Type

Growth

PADL, with a valuation of $25 million, is raising funds on Wefunder. The company combines technology and paddle sports with its paddle share systems. It offers self-service paddle sport rentals that allow users to rent paddleboards using their mobile phones. PADL is currently operating in 21 locations and plans to reach over 750 in the next 18 months. Andres Avello, Khalil Khouri, and Felipe Jauregui founded PADL in 2017. The current crowdfunding campaign has a minimum target of $49,999 and a maximum target of $4,999,998. The campaign proceeds will be used for marketing the sale of stations to B2B partners, development of key features for B2B software, R&D, and growth of stations.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$24,498

$2,602

COGS

$7,213

$3,247

Tax

$0

$0

 

 

Net Income

$-22,337

$-49,597

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$5,134

$1,630

Accounts Receivable

$365

$24

Total Assets

$354,838

$301,100

Short-Term Debt

$83,156

$53,138

Long-Term Debt

$215,480

$183,575

Total Liabilities

$298,636

$236,713

Financials as of: 11/30/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
PADL 08/26/2022 Wefunder $24,970,000 $311,103 Equity - Preferred Funded RegCF
PADL 02/18/2021 SeedInvest $5,000,000 $460,051 Convertible Note Funded RegCF / RegD 506(c)
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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

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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PADL on Wefunder 2021
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $24,970,000
Price per Share: $2.27

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