Voltway Cycles
Electric bikes, repairs and rentals for Denver commuters
$642,800
from 40 investors · 321% of the $200,000 target
Ended
$100minimum
40 investorsso far
This round has ended and met its target. Funds are being released from escrow.
Financial summary
| Revenue, last fiscal year | $1,950,000 |
|---|---|
| Revenue, year before | $1,480,000 |
| Revenue growth | +32% |
| Net income (loss), last fiscal year | $58,000 |
| Cash on hand | $160,000 |
| Total debt | $280,000 |
| Employees | 19 |
| Raised before this round | $500,000 |
A seed round from local investors in 2019.
Financial statements audited by an independent accountant are required for a round this size. Figures come from the company.
Use of funds
Second rental hub50% · $100,000 at target, $1,000,000 at maximum
Fleet expansion35% · $70,000 at target, $700,000 at maximum
Working capital15% · $30,000 at target, $300,000 at maximum