Swift Rails

About this raise

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.

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Investment Overview

Invested this round: $2,772

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
11/17/2023
Close Date
04/29/2024
Min. Goal
$50,006
Max Goal
$614,999
Min. Investment

$100

Security Type

Equity - Preferred

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$11.00

Pre-Money Valuation

$20,700,000

Company & Team

Company

Year Founded
2019
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2B
Margin
Medium
Capital Intensity
Low
Location
Lancaster, New York
Business Type
Growth
Company Website
Visit Website

Team

Employees
3
Prior Founder Exits?
No
Founder Name
Kevin Neumaier
Title
CEO
Founder Name
James Enright
Title
Chief Design Officer

Financials

as of Fiscal Year 2022
 Revenue +52% YoY
$44,890
 Monthly Burn
$19,094
 Runway
4.7 months

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

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$960,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/29/2024 Wefunder $20,700,000 $2,772 Equity - Preferred Funded RegCF
12/19/2022 Wefunder $15,529,680 $299,394 Equity - Preferred Funded RegCF
02/15/2021 Wefunder $9,930,000 $361,963 Equity - Preferred Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Swift Rails on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $20,700,000
Price per Share: $11.00

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

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