Verve
Early Stage
Minority-owned micro-mobility company
Analytics
Raised: $6,725
Aggregate Commitments $
Platform
Wefunder
Start Date
11/24/2021
Close Date
03/23/2022
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
Convertible Note
Funding Type
RegCF
Series
Seed
Valuation Cap
$6,000,000
Discount Rate
0%
Rolling Commitments $
Status
Not Funded
Reporting Date
03/30/2022
Days Remaining
Not Funded
% of Min. Goal
13%
% of Max. Goal
1%
Likelihood of Max
Not Funded
Avg. Daily Raise
$57
Momentum
Not Funded
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Location
Los Angeles, California
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
Hardwaretech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Verve, with a valuation of $6 million, is raising funds on Wefunder. The company provides micro-mobility solutions with affordable and eco-friendly scooters. The Verve scooters are reliable, inexpensive, and environment friendly modes of transportation and cultivate their brand through an organic-interface with popular culture. Verve is already operating a small fleet out of New Jersey and did over 40 rides in five days after launch. Kevin Thompson and Naim Statham founded Verve in September 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1,070,000. The campaign proceeds will be used for operations, social media promotions, ongoing tech updates, customer support, and legal expenses.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-73,744 |
$-10,460 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$11,079 |
$88,081 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$109,639 |
$142,941 |
|
Short-Term Debt |
$2,020 |
$0 |
|
Long-Term Debt |
$191,674 |
$143,401 |
|
Total Liabilities |
$193,694 |
$143,401 |
Financials as of: 11/24/2021
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