Boaz Bikes on WeFunder | Deal Memo

Jun 4, 2021 1 min read
Invest in Boaz Bikes: Revolutionary eco-conscious micro-mobility company moving people more safely | Wefunder
Revolutionary eco-conscious micro-mobility company moving people more safely

Company Overview

Boaz is a Black-Founded and Female-Founded business with Emil Nnani and Christiana Winfrey both having built ride-share companies from the ground up before Boaz. According to the company, Winfrey also helped Uber grow into a Multi-Billion dollar business.

According to the team, the company is projected to do $150K in monthly revenue in May, $250K in June (as the weather warms up), and $750K in July (following the deployment of their new fleet into 2 new markets.)

Deal Terms

  • Security: SAFE
  • Valuation Cap: $35,000,000
  • Min. Investment: $250

(Data as of June 2021)

Boaz Bikes: Wefunder Campaign Highlights

  • Richard Dahan, the lead investor for this round, is a VC who invested in early Lime.
  • The company currently has three city permits with plans to operate in 10+ cities by the end of 2021.
  • According to the team, they are currently running a secret pilot that's showing amazing results.
  • The company posted 10% to 20% increase in month over month revenue for the last 8 months.
  • The company raised $875,385 from 3,283 investors in the last Weunder round, and more than $1.7M total.

Did I Invest In Boaz Bikes?

I’m still in the process of writing a full deal report and decide whether or not I will invest in Boaz Bikes on Wefunder. At Angel Notes, I review 100+ pitches on 10+ platforms every month and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!

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