SurfUp

Early Stage

Automated recreational equipment rental platform that launched its initial surfboard rental station in January '21

Analytics

Raised to Date: Raised: $36,672

Aggregate Commitments $

Platform

Microventures

Start Date

03/03/2021

Close Date

08/02/2021

Min. Goal

$25,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Pre-Seed

Valuation Cap

$2,500,000

Discount Rate

0%

Rolling Commitments $

Status
Funded
Reporting Date

08/31/2021

Days Remaining
Funded
% of Min. Goal

147%

% of Max. Goal

15%

Likelihood of Max
Funded
Avg. Daily Raise

$241

Momentum
Funded
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Location

San Diego, California

Industry

Travel and Hospitality

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

SurfUp, with a $2.5 million valuation cap, is raising crowdfunding on MicroVentures. The company has developed a recreational equipment rental platform and started with surfboard rental in January 2021. The surfers can rent surfboards from the SurfUp app, pick them up from the rental stations, and experience the waves. Chris Hissom founded SurfUp in May 2019. The proceeds of the current crowdfunding campaign, with a minimum goal of $25,000 and a maximum goal of $250,000, will be used for manufacturing, research and development, marketing, app development, equipment, and legal expenses. SurfUp has applied for a provisional patent and is in the process of developing the automated platform.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$54

$0

COGS

$0

$0

Tax

$488

$0

 

 

Net Income

$-5,946

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$18,203

$0

Accounts Receivable

$0

$0

Total Assets

$18,707

$0

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

Financials as of: 03/03/2021
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SurfUp on MicroVentures
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Platform: Microventures
Security Type: Convertible Note
Valuation: $2,500,000

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