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Security Type
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CAFES
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Categories
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Technology, Infrastructure, Travel, Retail, Service Businesses, Transportation & Storage
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Min Investment
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$250
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Expected Close Date
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April 30, 2023
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Target Raise
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$50.00K-$4.39M
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No. Investors
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75
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Security Price
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$1
- Number of Employees
- 1
- Cash
- $35,792
- Revenue
- $8,382
- Short Term Debt
- $15,805
- Cost of Goods
- $1,163
- Long Term Debt
- $105,666
- Net Income
- $-43,106
Key Deal Facts
Led by a successful entrepreneur who founded and sold a transit tech company, Bytemark, to Siemens.
There are no other 100% Electric Vehicle car rental services on the market.
The car rental space is filled with legacy rental car companies in need of disruption.
Management Team / Advisory Board Bios
Micah Bergdale CEOFounded Bytemark, Inc and patented a half dozen patents in mobile transportation and payments tech. Micah grew Bytemark into a global operation generating tens of millions in annual ticket sales and revenue, which was eventually sold to Siemens., Navneet Sandhar CFOLecturer @ Rutgers; 15 years of experience in Accounting, M&A, and Financial Operations.
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
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The value of the company compared to similar companies raising money from investors.
Valuation
Security Description
A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.