Upshift

Early Stage

Redefining car ownership for urban living

Overview

Raised to Date: 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
unlikely
Avg. Daily Raise

$2,278

# of Investors

110

Momentum
hot.svg
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Location

San Francisco, California

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

MarketplaceTech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

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

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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Upshift on Wefunder 2022
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Platform: Wefunder
Security Type: SAFE
Valuation: $15,000,000
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