Upshift
Redefining car ownership for urban living
Overview
Raised: $97,955
Total Commitments ($USD)
Platform
Wefunder
Start Date
12/22/2022
Close Date
04/30/2023
Min. Goal
$50,000
Max. Goal
$447,000
Min. Investment
$100
Security Type
SAFE
Series
Seed
Funding Type
RegCF
Valuation Cap
$15,000,000
Discount Rate
0%
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/03/2023
Days Remaining
86
% of Min. Goal
196%
% of Max. Goal
22%
Likelihood of Max
Avg. Daily Raise
$2,278
# of Investors
110
Momentum
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Location
San Francisco, California
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
MarketplaceTech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Upshift, with a valuation cap of $15 million, is raising funds on Wefunder. The company offers a fractional car leasing service that provides drivers the peace of mind of having a car on the days they drive, without the friction of owning a car. Members can request a car in advance or with as short notice as 1 hour, and they will receive a clean car with a full tank at their doorstep. Upshift also enables members to subscribe to their service and receive a car on designated days regularly. Ezra Goldman and Ayako Hiwasa founded Upshift in October 2012. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $447,000. The campaign proceeds will be used for hiring (engineering, design, marketing, operations, marketing and general operating expenses.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$196,677 |
$143,464 |
|
COGS |
$117,300 |
$38,221 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-597,910 |
$-214,299 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$240,507 |
$10,006 |
|
Accounts Receivable |
$6,700 |
$7,467 |
|
Total Assets |
$659,846 |
$262,013 |
|
Short-Term Debt |
$553,280 |
$378,653 |
|
Long-Term Debt |
$325,860 |
$330,712 |
|
Total Liabilities |
$879,140 |
$709,365 |
Financials as of: 12/22/2022
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Upshift | 04/30/2023 | Wefunder | $15,000,000 | $97,955 | SAFE | Active | RegCF |
| Upshift | 11/18/2022 | Republic | $15,000,000 | $170,640 | SAFE | Funded | RegCF |
| Upshift | 01/31/2021 | Republic | $8,000,000 | $714,877 | SAFE | Funded | RegCF |
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