Swift Rails
Early Stage
Forever Sustainable Transportation - environmentally and financially
Overview
Raised: $0
Total Commitments ($USD)
Platform
Wefunder
Start Date
11/17/2023
Close Date
02/23/2024
Min. Goal
$50,006
Max. Goal
$614,999
Min. Investment
$100
Security Type
Equity - Preferred
SEC Filing Type
RegCF
Price Per Share
$11.00
Pre-Money Valuation
$20,700,000
Rolling Commitments ($USD)
Status
Active
Reporting Date
12/03/2023
Days Remaining
82
% of Min. Goal
0%
% of Max. Goal
0%
Likelihood of Max
Avg. Daily Raise
$0
Momentum
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Year Founded
2019
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Location
Lancaster, New York
Swift Rails, with a valuation of $20.7 million, is raising funds on Wefunder. The company is offering a new way of transportation with its on-demand personal vehicles working with zero emissions. Swift Rails’ autonomous vehicles are powered by electric motors, use renewable energy, and are five times faster, 40 times less expensive, and 100 times safer than conventional modes of transportation. The company has partnered with a well-established national transportation practice and has the support of a top engineering university. It has a growing sales pipeline already, with $200 million in good-to-excellent opportunities. Kevin Neumaier founded Swift Rails in 2019. The current crowdfunding campaign has a minimum target of $50,006 and a maximum target of $614,999. The campaign proceeds will be used for business development, design and engineering, materials, and marketing.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$44,890 |
$29,468 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-229,128 |
$-223,553 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$89,477 |
$17,129 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$260,111 |
$144,551 |
|
Short-Term Debt |
$25,275 |
$23,226 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$25,275 |
$23,226 |
Financials as of: 11/17/2023
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Swift Rails | 02/23/2024 | Wefunder | $20,700,000 | $0 | Equity - Preferred | Active | RegCF |
| Swift Rails | 12/19/2022 | Wefunder | $15,529,680 | $299,394 | Equity - Preferred | Funded | RegCF |
| Swift Rails | 02/15/2021 | Wefunder | $9,930,000 | $361,963 | Equity - Preferred | Funded | RegCF |
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