Verve

Verve

Early Stage

Minority-owned micro-mobility company

Minority-owned micro-mobility company

Overview

Raised to Date: Raised: $6,725

Total Commitments ($USD)

Platform

Wefunder

Start Date

11/23/2021

Close Date

03/23/2022

Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment

$100

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Early Bird Val. Cap

$5,000,000

Valuation Cap

$6,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

03/29/2022

Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise

$57

# of Investors

23

Momentum
Not Funded
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Year Founded

2018

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Los Angeles, California

Business Type

Growth

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: 11/23/2021
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Verve on Wefunder 2021
Platform: Wefunder
Security Type: Convertible Note
Valuation: $6,000,000

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