Swift Rails

Swift Rails

Early Stage

5x faster and 40x cheaper than regular transit

5x faster and 40x cheaper than regular transit

Overview

Raised to Date: Raised: $361,963

Total Commitments ($USD)

Platform

Wefunder

Start Date

09/02/2020

Close Date

02/14/2021

Min. Goal
$50,001
Max. Goal
$1,069,996
Min. Investment

$100

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$5.81

Early Bird Valuation

$8,956,860

Pre-Money Valuation

$9,930,000

Rolling Commitments ($USD)

Status
Funded
Reporting Date

02/27/2021

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

$2,194

# of Investors

327

Momentum
Funded
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Year Founded

2019

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

Lancaster, New York

Business Type

Growth

Swift Rails, with a pre-money valuation of $9.93 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. The autonomous vehicles are powered by electric motors and use renewable energy. Kevin Neumaier founded Swift Rails in 2019. The proceeds of the current crowdfunding round, with a minimum target of $50,001 and a maximum target of $1,069,996, will be used for design and engineering, business development, materials, and general and administrative expenses. Swift Rails has partnered with a well-established national transportation practice and the support of a top engineering university.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-19,354

$-14,611

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$1,890

$46,857

Accounts Receivable

$0

$0

Total Assets

$57,441

$70,786

Short-Term Debt

$4,679

$0

Long-Term Debt

$0

$0

Total Liabilities

$4,679

$0

Financials as of: 09/02/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Swift Rails 04/28/2024 Wefunder $20,700,000 $2,629 Equity - Preferred Active RegCF
Swift Rails 12/18/2022 Wefunder $15,529,680 $299,394 Equity - Preferred Funded RegCF
Swift Rails 02/14/2021 Wefunder $9,930,000 $361,963 Equity - Preferred Funded RegCF
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Swift Rails on Wefunder
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $9,930,000
Price per Share: $5.81

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