PADL

Self-serve paddle sport rentalsDid you know that 3 out of 4 millennials would rather buy an experience over a physical good, and that 27% of Americans have an interest in trying paddle sports? This is a 22 billion dollar opportunity in the US alone that has grown 56% over the last few years.PADL offers self-service paddle sport rentals that allow riders to rent paddle boards and soon kayaks right from their mobile phones. Unlike other alternatives, we offload the rental process onto our mobile apps, and have our equipment located in convenient waterfront locations, providing a far better option than buying or renting equipment both out of convenience, and economically.Our team is made up of lifelong water enthusiasts. While others were playing soccer, football, or baseball, we were paddling, fishing, and diving! PADL’s founders are Andres Avello, who has led financial and strategic operations and software implementations and managed over $500 million in operating budgets. Khalil Khouri, who is an engineer with deep expertise in robotics, including the buildout of an underwater ROV for Boeing and development to market of various products, and Felipe Jauregui, who helped manage a $2 billion portfolio for a large private bank, and later moved to lead operations at a manufacturing startup.We make money by renting paddle sport equipment by the hour and offering subscriptions memberships. Our product aims to be like CitiBike for paddle sports, and our vision is to get everyone involved in outdoor activities by getting people out on the water. We have already developed our product, received a patent, signed up 1800+ users, launched 7 stations and are now working to deliver to our growing pipeline of 150+ stations.

Developed patented solution for self-service paddle sport rentals
Signed up 1,800+ total users, with 190+ subscription members & 1000+ non-member rentals
4,000+ hours paddled across 700+ miles with over 1600+ sessions
Launched in 7 locations so far
Signed letter of engagement with Crystal Lagoons to offer PADL as a paddle share option for all current and future Crystal Lagoons

• PADL Stations
• Sales & Marketing
• R&D
• G&A

Andres Avello
CEO & Founding Partner
Large enterprise + entrepreneurial experience, launching + scaling multiple brands, implementing large software solutions, managing finance + accounting.

Khalil Khouri
CPO & Founding Partner
Engineer with expertise in robotics, including the buildout of an underwater ROV + development to market of various medical products.

Felipe Jauregui
COO & Founding Partner
Entrepreneur with a track record in sales, banking, relationship + operational management.

Round type: Seed Round size: US $1,500,000 Minimum investment: US $1,000 Target Minimum: US $350,000 Raised to date: US $97,980 US $0 (under Reg CF only) Security Type: Crowd Note Conversion discount: 20.0% Interest rate: 9.0% Note term: 36 months