Riders Share

Riders Share

Closed: Mar. 2023

About this raise

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.

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Investment Overview

Invested this round: $718,032

Deal Terms

Total Commitments

Platform
Republic
Start Date
01/26/2023
Close Date
03/27/2023
Min. Goal
$25,000
Max Goal
$1,235,000
Min. Investment

$150

Security Type

SAFE

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$25,000,000

Discount

0%

Company & Team

Company

Year Founded
2015
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
MarketplaceTech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Location
Austin, Texas
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Guillermo Cornejo
Title
CEO
Founder Name
Brendon Lamb
Title
CTO

Financials

 Revenue +91% YoY
$1,968,009
as of FY2021
 Monthly Burn
$171,440
as of FY2021
 Runway
0.4 months
as of FY2021
 Gross Margin
13%
as of FY2021

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

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$4,500,000
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/27/2023 Republic $25,000,000 $718,032 SAFE Funded RegCF
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Add to portfolio
Riders Share on Republic 2023
Platform: Republic
Security Type: SAFE
Valuation: $25,000,000

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Warning: according to the close date for this deal, Riders Share may no longer be accepting investments.

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