Upshift (2023)
About this raise
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.
Investment Overview
Invested : $129,738
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 12/22/2022
- Close Date
- 04/30/2023
$50,000
$447,000
$100
SAFE
Early Stage
RegCF
$13,000,000
$15,000,000
0%
Company & Team
Company
- Year Founded
- 2012
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2C
- Margin
- Medium
- Capital Intensity
- Low
Financials
- Revenue +37% YoY
-
$196,677
as of FY2021
- Monthly Burn
-
$49,826
as of FY2021
-
Runway
-
4.8 months
as of FY2021
- Gross Margin
-
40%
as of FY2021
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $1,881,705
- VC Backed?
- Yes