Swift Rails (2021)

About this raise

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.

Investment Overview

Invested this round: $361,963

Deal Terms
Company & Team

Total Commitments

Platform: Wefunder
Start Date: 09/03/2020
Close Date: 02/15/2021

Min. Goal
$50,001

Max Goal
$1,069,996

Min. Investment

$100

Security Type

Equity - Preferred

Series

Seed

SEC Filing Type

RegCF

Price Per Share

$5.81

Early Bird Valuation

$8,956,860

Pre-Money Valuation

$9,930,000

Company

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
Company Website: Visit Website

Team

Employees: 6
Prior Founder Exits?: No

Founder Name: James Enright
Title: Chief Design Officer

Founder Name: Kevin Neumaier
Title: CEO

Financials

Revenue: $0
Monthly Burn: $1,613
Runway: 1.2 months

View Detailed Financials

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

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Ratings

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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Revenue
Valuation
Price per Share
Employees

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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View on Wefunder

Preferred Stock, $9.9M • Closed

3 Following

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11 Invested

Deal Considerations

1
Key Challenges
- Try Edge free for 7 days
Other Risks
- No other risks found

Swift Rails (2021)

Swift Rails (2021)

About this raise