SurfUp

SurfUp

Early Stage

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

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

Overview

Raised to Date: Raised: $36,672

Total Commitments ($USD)

Platform

Microventures

Start Date

03/02/2021

Close Date

08/01/2021

Min. Goal
$25,000
Max. Goal
$250,000
Min. Investment

$100

Security Type

Convertible Note

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$2,000,000

Valuation Cap

$2,500,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

08/30/2021

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

$241

# of Investors

108

Momentum
Funded
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Year Founded

2019

Industry

Travel and Hospitality

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

San Diego, California

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: 03/02/2021
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SurfUp on MicroVentures
Platform: Microventures
Security Type: Convertible Note
Valuation: $2,500,000

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