# Funding Scenarios | Boaz Bikes

- Canonical URL: https://wefunder.com/feed/169129
- Entity ID: wefunder:feed_item:169129
- Published at: 2023-12-07 14:48:53 UTC
- Updated at: 2025-07-09 03:24:14 UTC

## Author
Emil I NNANI

## Subject
Boaz Bikes

## Content
Dear Boaz Bikes Supporters,Thank you for the incredible support! We've extended our investment deadline to April 2024, aiming to secure between $250K and $3M. Let's explore possible scenarios based on the funds raised.Industry Dynamics:Venture Capital in micro-mobility is uncertain as leading competitors failed despite raising billions. Boaz's impressive growth contrasts with the struggle to acquire sufficient capital. However, this lack enabled us to build a sustainable business. We aim to leverage our industry expertise to capture a larger market share in the US over the next 24 months.Funding Scenarios:$250K Raise: Repair and upgrade 1,200 vehicles for a $300K+ monthly revenue by summer 2024. This helps attract further funding avenues like Venture Capital or Private Equity. Additionally, we'll expand into a new market, preferably a university partnership.$1M Raise: Upgrading our current fleet, extending vehicle life to 5-7 years, adding an additional 500-1000 new vehicles, and expanding into a major city or multiple universities. Our projected revenue could nearly double, setting us on a strong path for Series A funding in the summer of 2024.$3M Raise: Scaling aggressively, adding 4,000 vehicles, securing financing for half the fleet, and expanding into 1-3 major markets (along with three universities). This sets us on track for an annual revenue run of $18M+ in 2024.Optimistic Outlook:Despite uncertainties, 2024 holds immense potential for micro-mobility. Regardless of our funding route, this year promises significant strides, potentially laying a robust foundation for 2025.Your continued support means everything. Join us on this journey towards reshaping micro-mobility!Warm regards,Emil Nnani, CEOFunding Impact