Upshift

Upshift

Early Stage

Redefining car ownership for urban living

Redefining car ownership for urban living

Overview

Raised this Round: Raised: $129,738

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/21/2022

Close Date

04/30/2023

Min. Goal
$50,000
Max. Goal
$447,000
Min. Investment

$100

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$13,000,000

Valuation Cap

$15,000,000

Discount

0%

Year Founded

2012

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

MarketplaceTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

San Francisco, California

Business Type

Growth

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

FY 2021 FY 2020

Revenue

$196,677

$143,464

COGS

$117,300

$38,221

Tax

$0

$0

 

 

Net Income

$-597,910

$-214,299

Summary Balance Sheet

FY 2021 FY 2020

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: 12/21/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Upshift 04/29/2023 Wefunder $15,000,000 $129,738 SAFE Funded RegCF
Upshift 11/17/2022 Republic $15,000,000 $170,640 SAFE Funded RegCF
Upshift 01/30/2021 Republic $8,000,000 $714,877 SAFE Funded RegCF
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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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Upshift on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $15,000,000

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