Swiftmile

Swiftmile

Early Stage

Personal Electronic Transporter (PET) sharing systems

Personal Electronic Transporter (PET) sharing systems

Overview

Funding data not publicly available
Platform

SeedInvest

Start Date

04/02/2017

Close Date

07/19/2017

Min. Goal
$100,000
Max. Goal
$250,000
Min. Investment

$500

Security Type

Convertible Note

SEC Filing Type

RegCF / RegD 506(c)    Open SEC Filing

Valuation Cap

$4,000,000

Discount

25%

Year Founded

2015

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

MarketplaceTech

Location

San Mateo, California

Swiftmile, with a valuation of $4 million, is raising funds on SeedInvest. The company manufactures Personal Electronic Transporter (PET) sharing systems for first and last-mile commuters. Swiftmile’s eBikes are locked into their solar-powered charging systems and can be opened and used through the company’s app. The business is helping cities and universities reduce smog, ease congestion, and provide a clean and green alternative to autos. Colin Roche founded Swiftmile in January 2015. The current crowdfunding campaign has a minimum RegCF target of $100,000, a minimum target for the combined offerings of $200,000, and a maximum target of $250,000. The campaign proceeds will be used for hardware and software development, pilot inventory of Swiftstations and Swiftbikes, and salaries.

Summary Profit and Loss Statement

FY 2016 FY 2015

Revenue

$29,450

$20,427

COGS

$17,841

$19,714

Tax

$0

$0

 

 

Net Income

$-284,267

$-137,903

Summary Balance Sheet

FY 2016 FY 2015

Cash

$88,776

$17,687

Accounts Receivable

$0

$0

Total Assets

$171,303

$83,667

Short-Term Debt

$249,746

$46,267

Long-Term Debt

$343,575

$175,303

Total Liabilities

$593,321

$221,570

Financials as of: 04/02/2017
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Swiftmile on SeedInvest 2017
Platform: SeedInvest
Security Type: Convertible Note
Valuation: $4,000,000

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