# PADL

🏄🏻‍♂️ The world's first self-service Paddle Sport Rental company. 

## Elevator pitch
We offer self-service paddle board rentals similar to how Citibike does for bikes.

- Canonical URL: https://wefunder.com/padl
- Entity ID: wefunder:company:99229
- Last updated: 2026-06-22T05:03:25Z
- Generated at: 2026-06-22T19:33:37Z

## Quick facts
- 🌎 Currently operating in 21 locations, with plans to reach over 750 within 18 months.
- 💰Every PADL station is cashflow positive!
- 🚀 37.5% month over month growth rate.
- 📈 Paddle Sports is a booming market with 51% growth -- this year alone.
- ♻️ PADL partners with organizations to host beach and mangrove cleanups to make the world a better.
- 🐳 Our proprietary "Smart Boards with SensorTech" monitor water quality and collect valuable data.
- 🦾 US Utility patent secured. (US Patent 10,861,087 B2)

## Active fundraises
- wefunder:fundraise:52447: 4(a)(6) successful (USD)
- wefunder:fundraise:52485: 4(a)(6) successful (USD)

## Story
We've created a frictionless & self-service paddle sport experience to change the way you get out on the water. You'll no longer have to pay ultra-high rental prices to enjoy a healthy paddle boarding experience, go fishing, do yoga or even enjoy a casual date.Did 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 51% over the last year.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 app, and have our equipment located in various waterfront locations, such as beaches, lakes, rivers and intercostals. PADL offers users an affordable and convenient opportunity to step into to paddle sports; this allows us to expand the market & democratize the sport for all.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 scooter rentals for paddle sports.  The 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 7000+ riders, launched 21 stations and are now working to deliver to our growing pipeline of 500+ stations.Our StoryGrowing up as kids we met while fishing and diving from our kayaks around Miami. The water has been an inspiration in our lives ever since. It is hard to imagine having a bad day out on the water, some of our favorite moments are going out for sunset paddle rides and seeing dolphins swim by. We created PADL to give everyone the opportunity to enjoy the bodies of water that surround them – beaches, lakes, and rivers are typically the most beautiful part of every town, and everyone should have access to enjoy them. Message from our CEOA few years ago I was the middle of a move from house to apartment. In the chaos of packing, I realized that my beloved paddle boards (I even owned 2!) were going to have to be left behind. Crushed that my paddle boarding routine would be soon coming to an end, I went as far as putting them up for sale, when it occurred to me that there had to be a better option. My town had just signed on board as a pilot city for Lime when I had my “aha” moment -- I saw the success they were having first hand within my neighborhood, and set out to replicate the model for my fellow water lovers. The rest is history! We launched our first station at our very own neighborhood beach, and after witnessing the success and demand for our product, we knew we needed to make PADL accessible to everyone, everywhere. Since then, we have spent the last 3 years refining the model, expanding the vision, and focusing on growth to make that happen!This has been the most fulfilling journey of my life and we'd love to have you 'onboard' for the ride.Here’s your chance to to join us, and own a share of our success!AndresThe ProblemIf you want to own a paddle board or kayak, you'll need to invest over $1k for a quality product. Next, you'll need to figure out how and where you're going to store a 12 ft board which weighs over 30lbs. Lastly, you'll have to worry about how to transport it every time you want to ride. It is a recipe for disaster. If you're like most people you'll use it a couple times, then have it sit and rot away, or maybe sell it to someone on Craigslist.Existing rental options consist of run-down mom and pop operations that are that are outdated and way overpriced -- catering mostly to the tourist economy. Most rental experiences are painful -- long lines, slow, outdated checkout processes while you stand around in the sun.We realized the market was ready for innovation and we have jumped on the opportunity. The industry has grown nearly 60% in the last year & we are feeling this demand – in fact, we can’t even keep up with it. This is what brings us here to you!The SolutionThe answer is the PADL system– our stations & app work together to offer a seamless solution to getting on the water, all through the power of a user’s mobile device. With our stations positioned just steps from the water, enjoying oceans, lakes, and rivers has never been so accessible. To get started you simply download the PADL app, accept the one click waiver and unlock your board at the station of your choice. After that you’re ready to ride! After your adventure, just return the board and paddle back to the station, and check out your ride stats on the app. The MarketThe PADL market presents itself from 3 primary and large markets.  Outdoor Recreation ($400B+), Wellness ($1T+) and Sustainability ($11B+).  Growth in Paddle Sports is up 59%, and total outdoor recreation market continues to increase consistently. TractionWe are already displaying strong growth and the curve continues to ramp.  We're just getting started and every station we launch is operationally cashflow positive.Revenue GrowthThis slide contains forward-looking projections that cannot be guaranteed.Just as our traction grows, we also maintain a consistent revenue performance with a 70% margin.

## FAQ
1. **So we are buying shares correct? Will there be a monthly or quarterly report by location for investors? Will u b paying quarterly or yearly dividends on income? How many locations and how many totals boards? What is the rental cost? Will 2022 be the first full year? THANKS**
   - Hi Steve, Great questions! We will continue issuing quarterly reports to all of our investors. As we are in growth mode, all income will be allocated towards the growth of the company for the time being. After launching our first location in August 2019 and developing a proof of concept, we expanded to over 20 stations this year. 2022 will be the first full year with these stations and could not be more thrilled to continue our growth! Our pricing is currently based on 2 models. The first is ...
2. **Hi All - I love this idea. I stumbled upon PADL by accident while traveling in Florida and love this idea for when I am visiting. I am curious about what the marketing plan is. Since I only accidentally stumbled on it (despite searching for paddleboarding) and nobody I spoke t...**
   - Hi Catherine, I am so happy that you did stumble upon us, and happy to say that walking traffic, while amazing, is not our sole method to scale. On our apps, we're building out an advanced referral program to benefit riders when they refer new riders. Over the last few months we have embarked on an aggressive SEO strategy revolving around creating social and location specific pages on various platforms and our website. Additionally, we have started our adventures blog to layer in additional t...
3. **How difficult/what is the process to get approval to place these in parks such as Philippe Park? (Which is an amazing feat btw!)**
   - Hi Gabriele, Thank you! The process is relatively straightforward for us since we have a patented system. We are able to enter into agreements with municipalities through 3 primary methods being (1) Special use permits, (2) Council approved agreements, (3) RFP. Additionally, we work with private partners such as hotels to launch locations. Our team is highly specialized in this and has been incredibly successful 🏄‍♂️
4. **Can you help me better understand the cost structure. What cost are included in the COGS? What is included in the operating cost? What % of the monthly OPEX cost is salary and benefits? What do you assume the run rate of your operating cost.... fixed vs variable? How much is i...**
   - Hi James, of course! Our COGS include credit card processing, hosting, repair and maintenance and cellular data fees. Payroll is approximately 30% of total OPEX. We are Cash Flow positive in 2022, so run rate is negligible. We have no interest on debt since credit balances are paid in full, and interest on convertible notes will not be due upon conversion to equity. Station payback is usually within 6 months, with many achieving payback in as little as 3-4 months.
5. **If you invest, does your membership start right away or can you activate it a later date?**
   - Hi Dave, we will be providing all perks at the end of the campaign, but if you reach out to us after investing from the PADL app, we can provide immediately to get you out on the water sooner. Alternatively, feel free to message support@padl.co as well. Thank you and happy paddling!

## Team
- Andres Avello (CEO/Co-Founder)
- Khalil Khouri  (CPO/Co-Founder)
- Felipe Jauregui (COO/Co-Founder)

## Q&A
- Q: Hello Andres, I’d like to talk to you about selling for you guys. Please connect sometime.
  - A: Hi Chuck, thanks for reaching out! Please shoot us an email at info@padl.co to connect and learn more. Thanks again!
- Q: Have there been no updates since october 2022? Any financials since 2022?
- Q: Hello, will you be running a funding campaign again? WEFunder does not have this campaign active currently and I would lie to participate. Thank you.
  - A: Hi Erin, please reach out to us directly at info@padl.co and ask for Andres. I'll be able to connect with you and answer any questions you may have. Thank you!
- Q: Hi everyone, reaching out to see if the membership that came with the investment is active yet and how to activate it - Thanks!
  - A: Hi Laura, you will be receiving an email today with all of details! Thank you for investing!
- Q: Andres have you guys released any current 2022 numbers regarding revenues at and total current station indexing?
  - A: Hi Jonathan, we currently have 32 stations in the market with a 20k runrate per station. We are building up the volume on the newer locations with earlier launches already achieving 35k to 40k per year. We will have 50 stations out shortly as targeted for the year!
  - A: I would like to add a very important note, which is that we are officially Cash Flow positive across the business! This is hugely important because we have been able to cross the barrier to default alive as a startup!
- Q: There are several very negative reviews about the app. How are you addressing these concerns to improve the customer experience?
  - A: Hi Andrew, that is a great question, and a key part to our business syncing customer support and R&D. As we receive feedback from reviews and support cases, we immediately address the problems with our riders to first either by refunding or assisting them, second, by figuring out the root cause, and third, by working on a solution either on our software or hardware.
- Q: Hi Andres - Thanks for the detailed response. On what timeline would an exit feel appropriate and successful for you? What types of entities do you anticipate providing that exit?
  - A: Hi Clayton, this is not set as many variables can happen, but we aim to grow the company to the point where we can successfully take it public or to acquisition if a good buyer who strategically aligns can help growth. In terms of an acquisition, there are large outdoor retailers and manufacturers that have extensions in the recreational rental space, and we see a large opportunity there. We also see an opportunity in the ride share space should some of the larger players move into recreation and hospitality. Our internal goal is 3-5 years, but I must say this as a disclaimer for startup investing that this can vary or not happen at all.
- Q: Hello Andres. I noticed your station in Coconut Grove yesterday, and had to walk over to check it out. Very, very cool. I had a few initial questions for you. Did i see reference that you plan to expand in to kayaks? Are the boards and kayaks proprietary or are you working with an established manufacturer? What quality control measures are in place to ensure the thousands of units you plan to deploy survive each night free of vandalism, so that they can continue to produce revenue each day? What challenges do you face in gaining permission from municipalities to deploy these stations? Why would municipalities want to have these stations in their parks and on their property? In Coconut Grove, it appears as if a launch was carved out of the Mangroves. What challenges do you face to gain permission from DERM in order to be able to carve out these launches, and how do plan to resolve those issues? When do you anticipate investors in this round seeing a return? Thanks much,
  - A: Hi Clayton, thank you for checking us out! We will be launching our fist 2 kayaks next week at the Miami Marine Stadium, and have plans to add them to existing locations. Our technology allows us to use both proprietary boards and kayaks, as well as from established manufacturers, and we do both currently. To control vandalism, we have daily checks via station cameras and multiple touch points per week to ensure equipment is in good working order, clean and ready for the next rental. When working with municipalities and hotels, we do not look to create a launch, but rather work with existing launches. In Coconut Grove for example, the launch was already there, but we did clean up the area so it would be a better experience to enter and exit the water. We anticipate the company to be profitable after launching our 50 locations at which point we will be going after our series A. In terms of being able to see a return on your investment, this will happen after an exit. Thank you! ~Andres
- Q: Just as a follow up, at what point do the perks get shared? I'm excited to get some Padl swag!!
  - A: Hi Chris, perks will be shared at the end of the campaign, but if you would like to ride sooner let us know at support@padl.co - we'll send you a code to ride!
- Q: Hi Andres, just wondering if there is an update on when the current round might close? Thanks in advance!
  - A: Hi Christian, we have decided to extended the campaign through April 30, 2023. As we continue to open locations we see an increase in interest from our riders to invest in the campaign. We have a strong belief (from experience) that our investors and riders are some of our best brand advocates, and maintaining this opportunity will assist in our growth!
- Q: For beaches in northern states, such as NC, VA, etc., will you have to remove installations/stations to storage during winter months? With bikes, kayaks, etc., maybe those can be year-round, I assume.
  - A: Hi Brian, Thank you for your question! In more seasonal markets we see the opportunity to either reposition the stations themselves, or maintain in the market for those perfect weather days. Knowing the climates in NC and VA quite well, many weeks over the winter will have swings between 40's and 70's allowing for some good weather days throughout the colder season. At the end of the day, the decision will be made through a cost benefit analysis in each market, and through the ability to provide different amenities such as bikes and kayaks.
- Q: Hello, I'm looking to invest in PADL and want some more information on the included membership. I noticed it says, "Get a 2-year membership to use at all PADL stations ". What does the membership include? Does the membership include, unlimited rentals, unlimited time, multiple boards, an additional hourly rate, etc?
  - A: Good Morning, and great question. With your membership you can ride for 2 hours per day at no additional charge, additional hours are billed at a discounted rate of $10 per hour and you can rent additional boards at the discounted rate!
- Q: hello I am Canadian, I imagine that it does not pose a problem to invest? can you explain to me what can I expect in terms of income or profitability for example an investment of $1000?
  - A: Hi Michel, the investment is for purchasing equity in the company. Thank you!
- Q: Hi I’d love to get an idea of (1) if revenue through ~1/3 ‘22 is on pace for projections and (2) if there is a liability to the company if someone were to rent a board etc and have an accident at water (too young, inexperienced, storm, fall, etc etc)
  - A: Hi DTX, we will have the 50 locations up and running in the next few months and on track. Regarding liability, we carry insurance to protect us from accidents that may occur, but also require legal waivers, provide safety videos, and close stations during inclement weather to prevent or reduce the possibility of occurrence.
- Q: Hi Andres, I know the current round is still open, but curious if you have a date at which you will close the round whether or not the full raise is finished?
  - A: Hi Christian, we are already building and deploying the next 30 locations and will 2.5X the business by summer! With that said, our round will close on April 30th. Upon close we will either extend the round or start another. Also as an update, we will be launching this summer with 50 stations, while continuously deploying more. We will also start adding kayaks to some of the existing locations, as well as exploring bikes and e-bikes for recreational purposes. Our overall strategy is to be the dominant player in FL, being one of the largest travel and recreation markets globally, and from there, replicate the model into other states, countries.