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Upshift on Republic 2022

Date:

Platform

Republic

Start Date

06/27/2022

Close Date

11/18/2022

Min. Goal

$25,000

Max. Goal

$535,000

Min. Investment

$150

Security Type

SAFE

Funding Type

RegCF

Valuation Cap

$15,000,000

Discount Rate

0%

Rolling Commitments $

Status

Active

Reporting Date

06/27/2022

Days Remaining

144

% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max

Avg. Daily Raise

$0

Momentum

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Location

Oakland, California

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

MarketplaceTech

Upshift, with a valuation of $15 million, is raising funds on Republic. The company offers fractional car leasing services to drivers who need cars for short distances and short duration, without the friction of owning cars. Users can request cars at the notice as short as 30 minutes, and they will receive clean cars with full tanks at their doorstep. Upshift also allows users to subscribe to their services and receive cars on designated days regularly. Ezra Goldman and Ayako Hiwasa founded Upshift in October 2012. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $535,000. The campaign proceeds will be used to scale up in San Francisco, launch in DC, integrate drive-by-wire vehicle delivery technology, and electrify the fleet.

Summary Profit and Loss Statement

Revenue

$196,677

$143,464

COGS

$117,300

$360,109

Tax

$0

$0

 

 

Net Income

$-597,910

$-214,299

Summary Balance Sheet

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: 06/27/2022

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Raise History

Upshift 11/18/2022 Republic $15,000,000 $0 SAFE
Active
RegCF
Upshift 01/31/2021 Republic $8,000,000 $714,877 SAFE
Funded
RegCF

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