Riders Share
Growth Stage
Motorcycle sharing done right: the marketplace for owners and riders
Overview
Raised: $718,032
Total Commitments ($USD)
Platform
Republic
Start Date
01/25/2023
Close Date
03/27/2023
Min. Goal
$25,000
Max. Goal
$1,235,000
Min. Investment
$150
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$25,000,000
Discount
0%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/01/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$11,967
# of Investors
989
Momentum
Funded
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Year Founded
2015
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
MarketplaceTech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Riders Share, with a valuation of $25 million, is raising funds on Republic. The company has developed a motorcycle-sharing marketplace for users to rent motorcycles anywhere. The platform matches vetted renters with motorcycle owners using its proprietary machine-learning AI. Riders Share also enables motorcycle owners to make profits from their otherwise depreciating assets. Riders Share has over 35,000 bookings and 3,600 listings, and reported a 75% year-over-year revenue growth rate in 2022. Guillermo Francisco Cornejo founded Riders Share in July 2015. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1.24 million. The campaign proceeds will be used for geographical expansion and diversification of revenue streams.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$1,968,009 |
$1,029,643 |
|
COGS |
$1,714,061 |
$1,100,447 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-2,057,277 |
$-1,366,838 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$74,068 |
$555,088 |
|
Accounts Receivable |
$45,645 |
$16,242 |
|
Total Assets |
$401,669 |
$883,115 |
|
Short-Term Debt |
$1,309,589 |
$281,624 |
|
Long-Term Debt |
$3,245,180 |
$2,697,312 |
|
Total Liabilities |
$4,554,769 |
$2,978,936 |
Financials as of: 01/25/2023
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