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the Second Round of CityFreighter Inc. logo

the Second Round of CityFreighter Inc.

Operating

Cityfreighter Inc

Energy & Cleantech

Electric Trucks for the Last Mile

Valuation cap ⓘ
$28.0M
As of Sep 2024 · from Reg CF Offering (2023) · a SAFE/note conversion ceiling, not a priced valuation
Total raised
$881,564
Across 3 rounds since 2018
Latest share price
$10.00
Reg CF · Common Stock · Sep 2018 offering price

Financials

FY2016–FY2022 (no data for FY2020) · from SEC filings · hover any figure for its source
$0
2016
$0
2017
$0
−$85K
2018
$0
−$220K
2019
2020no data
$0
−$1.4M
2021
$173K
−$256K
2022
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2016 reviewed*
FY2017 reviewed*
FY2018
FY2019
FY2021 audited
FY2022 audited
Income statement
Revenue
$0
$0
$0
$0
$0
$173,017
Cost of goods sold
$0
$0
$33,545
$151,579
$0
$0
Gross margin
—
—
—
—
—
100%
Net income
$0
$0
-$85,270
-$220,323
-$1,375,177
-$255,932
Taxes paid
$0
$0
$0
$0
$0
$0
Balance sheet
Cash
$0
$0
$0
$0
$742
$379
Accounts receivable
$0
$0
$0
$0
$0
$0
Total assets
$0
$0
$33,545
$57,511
$490,548
$1,051,034
Short-term debt
$0
$0
$100
$0
$188,948
$434,414
Long-term debt
$0
$0
$0
$0
$30,309
$30,309
Total liabilities
$0
$0
$100
$0
$219,257
$464,723
Other
Headcount
—
9
9
9
—
2

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Valuation caps on SAFE / convertible note rounds
$7.5M
Valuation cap
$28.0M
Valuation cap
Reg CF · SAFE · Aug 2020
Reg CF · SAFE · Jun 2023

Dashed amber bars are a SAFE or convertible note's valuation cap — the most it converts at, not what the company is worth.

Fundraising history

Reg CF · SAFE · Jun 2023Closedvia WeFunder
Raised $128.2K / $5MInvestors 150Valuation cap $28M
Reg CF · SAFE · Aug 2020Closedvia WeFunder
Raised $648.3K / $535KInvestors 1,284Valuation cap $7.5M
Raised $105.1K / $1.1MInvestors 164

Team

10 people
Joe StormentFounder
Co-Founder, COO and Director

Joe runs US Infrastructure development at Cityfreighter Inc. from inception in June 2018 to present working full time for the company. He has also been a private investor from 2008 to present.

Michael SchoeningFounder
Founder, Director and President

Entrepreneur for life. Business Developer. Michael has over 30 years of product development experience. Before starting Cityfreighter, Michael served as president for Enblue Technology USA, Inc., a mobile devices accessories company, from 2015 until August 2018. He's currently the President of Cityfreighter Inc. from inception in June 2018 to present, working full time.

Harry Hu
Asian Operations

Harry is currently president sale& marketing for a Chinese electric vehicle manufacturer

Hector Realubit
Design

Automotive Designer Los Angeles. A-class automobile project experience

Ignacio Ayala
US East Coast Operations

Ignacio worked in the EV charging industry. Member of diverse Clean City committees

John Bailey
Advisory Board

John is an expert on strategy execution, operational excellence and growing businesses internationally with a background and network also in the logistics industry

Martin Pölöskey
Technology Development

Specialist in automotive electronics and advanced driver assistance systems (ADAS). Runs an engineering company developing automotive and rail innovations

Peter Hulzebos
Adviser E-Mobility

Peter has 19 years working experience in the commercial automotive and electric mobility market . Works currently for a battery technology development company in the Netherlands

Reiner Brenner
Adviser Coatings and Structures

Reiner owns a large automotive body shop business in Germany and understands structural engineering

Show 1 more person
Shawn Sakamoto
IT Adviser

Information Developer for Hewlett Packard in Sacramento, CA

Names and titles as disclosed on SEC Form C, StartEngine. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Not required3+ reports filed & assets ≤ $10M

Filed 3 of 8 annual reports (FY2018–FY2025)

1,284 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

  • Form C/AApr 29, 20240001670254-24-000495
    EDGAR
  • Form C/ADec 13, 20230001670254-23-001140
    EDGAR
  • Form CMay 1, 20230001670254-23-000480
    EDGAR
  • Form C-ARApr 28, 20230001670254-23-000463
    EDGAR
  • Form CJul 17, 20200001670254-20-000624
    EDGAR
  • Form C-ARJun 10, 20200001665160-20-000772
    EDGAR
  • Form C-ARJun 10, 20200001665160-20-000774
    EDGAR
  • Form C-UOct 23, 20190001665160-19-001053
    EDGAR
Source: ManualCIK 0001750512Share price $10.00

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.