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Pedal Anywhere is offering securities under both Regulation D and Regulation CF through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 5.00% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. Investments made under both Regulation D and Regulation CF involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Furthermore, this profile and accompanying offering materials may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Investors should review the risks and disclosures. The contents below are meant to be a summary of the information found in the company’s Form C. Before making an investment decision, investors should review the company’s Form C for a complete description of its business and offering information, a copy of which may be found both here and below.

Total Revenue Since Launch

$196,000

Total Customers Since Launch

2,350

  • ~3X revenue growth from launch in 2014 through 2016
  • 55% Y/Y income growth
  • Bootstrapped to date
  • Organic SEO: top-three Google result when searching "Seattle bike rental"
  • Targeting expansion to three new cities by 2018
  • Amount raised:  
  • Close date:  
  • Indicated Interest:  
  • Raise Description:  Pre-Seed
  • Minimum Investment:  US $500 per investor
  • Security Type:  Crowd Note
  • Valuation Cap:  US $3,000,000
  • Offering Type:   Side by Side Offering

Bikes Delivered on Demand.


Pedal Anywhere was founded in 2013 as an experiment in on-demand bike rental. We have grown revenues to over $196,000 since that first year and are excited to scale the concept regionally and nationally. We are disrupting a rental market which from our observations lacks household names, national brands, and consistent bike quality. Our goal is to always deliver to your door within 2 hours, guaranteed. 

The Problem

From our experience, traveling with your bicycle is prohibitively expensive – requiring technical assembly knowledge – so most travelers leave their bikes at home. According to our observations, North America lacks a single recognizable bike rental brand, with bike rental limited to either one-size-fits-all public bike-share programs or local shops with varying hours, pricing, and availability. 

We believe getting a rental bike should be as easy as hailing an Uber, but we haven't seen the bike rental market respond with the on-demand products that we believe consumers increasingly expect. 

The Solution

Pedal Anywhere solves these problems by providing high quality bikes that are fully customizable for a rider’s desired accessories, size, and style. By delivering them on demand and operating 7 days per week, we remove the traditional pain points that travelers experience when trying to locate an adequate rental shop in an unfamiliar city. 


**Investor Webinar**

Join us for an investor webinar with Pedal Anywhere's Co-Founder and CEO Zach Shaner on Wednesday, February 22nd, at 2:00 PM EST. RSVP required. To RSVP, please visit the following link: https://attendee.gotowebinar.com/register/8351123246187339521.

Pitch Deck

Product & Service

We offer city hybrids, aluminum road bikes, and steel touring bikes for rent. Customers get quality bikes and components with easily serviceable parts in the case of breakdowns. All reservations are made online through our web app. Once submitted, orders are prepped to the customer’s specifications, then dispatched to delivery staff. We deliver and pick up bikes via our proprietary bike-hauling bike trailer, enabling each delivery driver to carry 3 customer orders simultaneously with zero fuel cost. Payment is made via Square upon successful delivery.

The mission of our business model is to harness economies of scale to earn 10x in revenue per year over the capital cost of each bike. Our goal is to utilize periodic resale of the bikes to obtain profitable capital replacement, so that once each city’s fleet is at scale, ongoing capital inputs are effectively free and the product is always new. 

Rental rates range from $39-$449.

Media Mentions

Team Story

Co-Founder Lucas Nivon noticed a large gap in the long-term bike rental market in 2012, leading him to found Seattle Monthly Bike Rental out of his garage with a handful of bikes. Lucas remains an advisor while running Cyrus Biotechnology full time as Co-Founder and CEO.

Seeing strong demand for the experimental product, Lucas head-hunted Co-Founder Zach Shaner to be CEO in 2013. Now rebranded as Pedal Anywhere, Zach has grown the company to over $196,000 in revenue from over 2,300 customers.

Meet the Founders

Zach Shaner

CEO & Co-Founder

Zach is an economist and journalist by training, and worked on bicycle and transit advocacy for 6 years prior to heading Pedal Anywhere. His strong vision for the product and his extensive experiences with governments and bicycle nonprofits will be leveraged heavily in the future to form meaningful partnerships.

Lucas Nivon

Co-Founder

Co-Founder Lucas Nivon noticed a large gap in the long-term bike rental market in 2012, leading him to found Seattle Monthly Bike Rental out of his garage with a handful of bikes. Lucas remains an advisor while running Cyrus Biotechnology full time as Co-Founder and CEO.

Zach Shaner

CEO & Co-Founder

Zach is an economist and journalist by training, and worked on bicycle and transit advocacy for 6 years prior to heading Pedal Anywhere. His strong vision for the product and his extensive experiences with governments and bicycle nonprofits will be leveraged heavily in the future to form meaningful partnerships.

Lucas Nivon

Co-Founder

Co-Founder Lucas Nivon noticed a large gap in the long-term bike rental market in 2012, leading him to found Seattle Monthly Bike Rental out of his garage with a handful of bikes. Lucas remains an advisor while running Cyrus Biotechnology full time as Co-Founder and CEO.

Key Team Members

Roy Wilkie

Operations Manager

Meaghan Mcclure

Marketing Manager

Q&A with the Founder

  • Can you discuss the operating history of the Company since you launched in 2012?
    Co-founder Lucas started the Company in 2012 and found current CEO Zach in 2013 as co-founder to join. Pedal Anywhere was a hobby company until 2015. Lucas is a post-doc from Harvard and went on to start a healthcare / medical startup. Since Lucas did not have the bandwidth to continue running Pedal Anywhere, he found Zach who started at the Company in 2015 for last 18 months. Then we hired our 1st delivery staff in April and hired marketing & ops in July. We’ve bootstrapped the Company to date with an operations agreement as an LLC with 75% / 25% split between Zach and Lucas respectively based on $ put in by each of us ($60K from Zach and $19K from Lucas).
  • What is Lucas’ role now?
    He meets with us monthly; he received funding for his other startup and is able connect us to angels and for fundraising. He also gives us tax advice but is not involved in day to day decisions and operations.
  • What is your B2B strategy?
    In addition to our core business of on-demand bike delivery, we are pursuing a number of partnership opportunities in order to flatten our current seasonal revenue curve and diversify our revenue streams. (1) Colleges and Universities: We are actively pitching the University of Washington to become a provider of student rental bikes. If successful, we would seek to replicate the university model in other large college towns. (2) Corporate Fleets: We are also creating a turnkey corporate bike rental product, with a successful $14.4K test contract carried out in 2015. The corporate program would create rental bike fleets as tenant amenities for commercial properties, with the programs facilitated through real estate firms and/or property managers. (3)Local Nonprofit Partnerships. (4) Municipal Governments: Though not yet in the pipeline, one of our medium-term ambitions is to act as a complementary product to municipal bikeshare programs like Pronto (Seattle) or CitiBike (NYC). Because we offer a superior product, with higher quality bikes at competitive rates with no distance or time restrictions, we foresee the possibility of future integration with bikeshare fleets as a premium option with instant delivery. We anticipate corporate contract pipelines taking 30-60 days from inquiry to contract closing. We’d also like to pursue partners to scale in the long term by approaching large scale travel / transportation companies like Airbnb with our offerings. We can also provide corporations on-site bikes for tenants & employees. We’ve seen interest here but have not had and will have bandwidth to pursue these opportunities until we bring on a VP of Business Development.
  • What’s the difference between your hybrid and road bikes?
    In general, our hybrids are more comfortable and more upright, while our road bikes have better components and are more suitable for long days on the road.
  • Do you foresee any risks to your Wholesaler Agreement with Advanced Sports?
    Our distributor provides Fuji bikes. We ask for inventory on a weekly basis, and they turn around orders quickly. We’ve never had trouble ordering product. They have an annual Sept to Sept cycle on new bikes & hold closeouts on older models – this may lead to shortage or running out of stock in June when we do ordering in the Spring. We use their bikes for 2 years and receive better pricing with scale as their fabrication runs on larger volumes.
  • The Q&A with the Founder is based on due diligence activities conducted by SI Securities, LLC. The verbal and/or written responses transcribed above may have been modified to address grammatical, typographical, or factual errors, or by special request of the company to protect confidential information.

    Side by Side Term Sheet

    A Side by Side offering refers to a deal that is raising capital under two offering types. If you plan on investing less than US $20,000.00, you will automatically invest under the Regulation CF offering type. If you invest more than US $20,000.00, you must be an accredited investor and invest under the Regulation D offering type.


    Terms & DescriptionRegulation D - Rule 506(c)Regulation CF
    Investor TypesAccredited OnlyAccredited and Non-accredited
    Round descriptionPre-SeedPre-Seed
    Round sizeUS $750,000US $750,000
    Offering capN/AUS $1,000,000
    Amount raisedUS $0US $9,000
    Minimum investment$20,000US $500
    Target minimumUS $100,000US $100,000
    Security typeCrowd NoteCrowd Note
    Conversion discount20.0%20.0%
    Valuation capUS $3,000,000US $3,000,000
    Interest rate6.0%6.0%

    Investor Perks

    • Invest $2,500: 10% lifetime discount
    • Invest $5,000: 25% lifetime discount
    • Invest $10,000: Your choice of a free hybrid bicycle from our fleet
    • Invest $25,000: Your choice of a free road bicycle from our fleet
    • Invest $50,000: Lifetime of free rentals for yourself
    • Invest $100,000: Lifetime of free rentals and a free 7-day bike tour of your choice

    It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

    Financial Discussion

    Financial Statements

    Our financial statements can be found in the Data Room below. Seattle Monthly Bike Rental LLC was formed on February 28, 2012 as a Washington limited liability company. The financial statements reflect the company’s business for the years ended December 31, 2014 and December 31, 2015. Those financial statements were reviewed by an independent CPA. The financial information discussed below with respect to 2016 has not been reviewed and is subject to change.

    Financial condition

    We are a development stage company and are dependent on additional financing, including this Offering, in order to have the funds to develop our services.

    The preparation of financial statements includes estimates made by management and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results can differ from those estimates.

    Results of Operations

    Our net revenues for the year ended December 31, 2015 were $68,558 compared to $22,095 in 2014. Net revenues consist of all sales, less discounts and returns. The company recognizes revenues when: (1) persuasive evidence exists of an arrangement with the customer reflecting the terms and conditions under which products or services will be provided; (2) delivery has occurred or services have been provided; (3) the fee is fixed or determinable; and (4) collection is reasonably assured. The company includes credit card processing fees in costs of goods sold. Cost of revenues (consisting of bicycle maintenance, taxes and licensing, supplies and materials and other administrative costs) was $17,825 in 2015 compared to $11,838 in 2014, resulting in gross margins of 74% and 46%, respectively. Revenues increased because of expanded operations, which also resulted in higher margins.

    Operating expenses consist 99% of general and administrative costs, with the remaining 1% being sales and marketing. Our total operating expenses through December 31, 2015 were $18,553 compared to $4,686 in 2014.

    The company has a policy to capitalize expenditures with useful lives in excess of one year and costs exceeding $500 as property and equipment and depreciates such assets on a straight-line basis over estimated useful lives, which is estimated at 3 years for the company’s bicycles. The company also capitalizes trademark filing costs and related legal expenses when management perceives a future economic benefit. Depreciation expense totaled $4,117 and $1,156 for the years ended December 31, 2015 and 2014, respectively.

    As a result of the foregoing, the company recorded a net income of $32,180 and $5,571 as of December 31, 2015 and 2014, respectively.

    For the year ending December 31, 2016, the company had net revenues totaling $94,293. During this same period, the company incurred expenses of $37,316, of which 18% was derived from tax and license expenses, 17% from bike maintenance expenses, 11% from advertising, 10% from supplies and materials, 10% from web design expenses and the remaining 31% from all other administrative expenses.

    Liquidity and Capital Resources

    As of December 31, 2015 we had no cash in hand. The cash at the end of this period was allocated to related party activities and members’ draws in the amount of $25,622. For the purpose of the statement of cash flows, cash equivalents include time deposits, certificate of deposits, and all highly liquid debt instruments with original maturities of three months or less.

    Based on our cash flow projection, we anticipate that if we raise at least $750,000, this round should get us through 2018 and allow us to expand to three cities. After this time, we anticipate that profits will fund us after such time based on our projections. However, we might consider additional capital raises in order to increase the scope of our expansion plans. If we raise only our target amount, the proceeds will allow us a scaled-down one city expansion by early 2018. If working capital money is needed to fund inventory, we will likely seek a working capital loan or consider going through another round of financing.

    We have not committed to make any capital expenditures, and in the event that we do not raise sufficient funds from this offering, we will defer the capital expenditures we have planned.

    Commencing December 1, 2016, the company entered into a lease agreement for commercial property for a term of 12 months and requires monthly payments of $650. As of November 22, 2016, the company’s total assets were $47,699 and liabilities $10,040, which includes the $10,000 line of credit. As a result, the company’s total equity as of November 22, 2016 was $37,659.

    Indebtedness

    As of December 31, 2015, the company had no liabilities. In 2016, the company entered into a line of credit agreement for $10,000 with an 8.5% interest rate to fund operations and additional bicycle purchases. The line of credit does not have a maturity date but requires a minimum payment of 2.5% of capital each month. $5,000 has already been used for excess fleet purchases in July 2016. The company plans to use the funds from this offering to pay off this debt. As of the date of this Offering Memorandum, the company has drawn down $9,900 under this line of credit.

    Recent offerings of securities

    The company has not made any offerings of securities in the last three years.

    Valuation

    We have not undertaken a valuation of the company.

    As discussed in “Dilution” above, the valuation will determine the amount by which the investor’s stake is diluted immediately upon investment. An early-stage company typically sells its shares (or grants options over its shares) to its founders and early employees at a very low cash cost, because they are, in effect, putting their “sweat equity” into the company. When the company seeks cash investments from outside investors, like you, the new investors typically pay a much larger sum for their shares than the founders or earlier investors, which means that the cash value of your stake is immediately diluted because each share of the same type is worth the same amount, and you paid more for your shares (or the notes convertible into shares) than earlier investors did for theirs.

    There are several ways to value a company, and none of them is perfect and all of them involve a certain amount of guesswork.  The same method can produce a different valuation if used by a different person.

    Liquidation Value —  The amount for which the assets of the company can be sold, minus the liabilities owed, e.g., the assets of a bakery include the cake mixers, ingredients, baking tins, etc.  The liabilities of a bakery include the cost of rent or mortgage on the bakery.  However, this value does not reflect the potential value of a business, e.g. the value of the secret recipe.  The value for most startups lies in their potential, as many early stage companies do not have many assets (they probably need to raise funds through a securities offering in order to purchase some equipment).

    Book Value —  This is based on analysis of the company’s financial statements, usually looking at the company’s balance sheet as prepared by its accountants.  However, the balance sheet only looks at costs (i.e. what was paid for the asset), and does not consider whether the asset has increased in value over time. In addition, some intangible assets, such as patents, trademarks or trade names, are very valuable but are not usually represented at their market value on the balance sheet.

    Earnings Approach —  This is based on what the investor will pay (the present value) for what the investor expects to obtain in the future (the future return), taking into account inflation, the lost opportunity to participate in other investments, the risk of not receiving the return.  However, predictions of the future are uncertain and valuation of future returns is a best guess.

    Different methods of valuation produce a different answer as to what your investment is worth.  Typically liquidation value and book value will produce a lower valuation than the earnings approach.  However, the earnings approach is also most likely to be risky as it is based on many assumptions about the future, while the liquidation value and book value are much more conservative.

    Future investors (including people seeking to acquire the company) may value the company differently.  They may use a different valuation method, or different assumptions about the company’s business and its market.  Different valuations may mean that the value assigned to your investment changes.  It frequently happens that when a large institutional investor such as a venture capitalist makes an investment in a company, it values the company at a lower price than the initial investors did.  If this happens, the value of the investment will go down.

    Market Landscape

    We believe our competitive advantage relies on our nexus of quality and price. Our goal is to aggressively cut costs, use a delivery-only model, and invest in a high quality fleet so that we can provide an unprecedented value for bike rental in North America. 

    From our perspective, our primary competitors are local bike shops (with varying quality and high prices) and subsidized bike-share schemes (with low quality and low prices). Although our research has not revealed any direct competition, potential competitors are other instant delivery companies already at scale (Amazon, Postmates, Spinlister, etc.) that could choose to pivot into our market. 

    Our primary target customer is the tourist or business traveler staying at an Airbnb. They visit for business or pleasure for a few days or a week; they don’t want to rent a car; they don’t want to learn the local transit system; and they want a flexible, healthy, on-demand transportation option. As cities add cycling infrastructure, our addressable market will expand in kind. 

    Disclaimer: Statements above are based on management opinion and are meant for illustrative purposes. They do not represent the scope of competition in the marketplace, nor does it represent guarantees of future results, levels of activity, performance, or achievements. 

    Risks and Disclosures

    We are selling convertible notes that will convert into shares or result in payment in limited circumstances, and in certain circumstances only at the option of the company. These notes do not have a maturity date and only convert or result in payment in limited circumstances. If a merger, buyout or other corporate transaction occurs before a qualified equity financing, investors will receive a payment of the greater of 2 times their purchase price or the amount of preferred shares they would have been able to purchase using the valuation cap. If a qualified equity financing occurs (and only a financing using preferred shares will count for this purpose), the conversion price will be set for conversion into non-voting shares of a to-be-determined class of preferred stock. Investors in the Regulation CF offering will be considered non-major investors under the terms of the notes offered. Only major investors will have their notes converted at this time, notes held by non-major investors will only convert at the sole discretion of the company or in the event of subsequent corporate transaction. Further, the notes convert at a discount of 20%, or based on a valuation cap, meaning investors would be rewarded for taking on early risk compared to later investors. But you won’t know how much your investment is worth until that happens. The outside investors at the time of the conversion, if any, might value the company at an amount well below $3 million valuation cap, so you should not view the $3 million as being an indication of the company’s value. Further the interest on the notes is accrued interest; therefore you will not be paid interest payments on these notes. If you choose to invest, you should be willing to accept that your notes will never convert and will have no value.

    In order for the Crowd Notes to eventually convert into equity in the company, the company will have to be restructured. If the Notes being issued in this offering are to convert into equity in the company, the company will need to be restructured from an LLC, which will involve legal paperwork and filings with state regulatory authorities. If this doesn’t happen for any reason (including the company not having enough money to pay lawyers), the value of your investment will be damaged.

    It is unclear how the Crowd Note would be interpreted by a court if we are forced into litigation. We are using Crowd Notes in this offering. Crowd Notes are designed to offer equity in the company at a future date when certain conditions occur. However, it is unclear how a court would interpret the provisions of the Crowd Note in relation to our organization as a limited liability company. Should we be forced to litigate the terms of the Crowd Note, it is possible that a court would not interpret the note as we do, thereby impacting the terms of the investment and possibly providing greater rights to some investors and lesser rights to others.

    We have not assessed the tax implications of using the Crowd Note. The Crowd Note is a type of debt security that does not include a set maturity date. As such, there has been inconsistent treatment under the state and federal tax law as to whether the Crowd Note can be considered a debt of the company, or the issuance of equity. Investors should consult their tax advisors.

    We have elected to be taxed as a partnership. We are organized as a limited liability company and have elected to be taxed as a partnership rather than a corporation. This means that the tax liabilities of the company pass through to the members rather than being taxed at the entity level. In the case that Crowd Notes are determined by a court to be equity of the company that grants each investor the status of a member, you may also incur tax liabilities that are passed through to members.

    We will eventually be required to reorganize the company as a corporation to convert the notes in this offering. We are currently organized as Seattle Monthly Bike Rental LLC in Washington. Washington is our home jurisdiction. However, the Crowd Notes in this offering work best for Delaware corporations, and we may decide to reorganize as a Delaware corporation prior to the conversion of the notes, whether it is due to a subsequent equity financing, acquisition of the company, or maturity of the Crowd Notes.

    You may have limited rights. The company has not yet authorized Preferred Stock, and there is no way to know what voting rights those securities will have. In addition, as an investor in the Regulation CF offering you will be considered a non-major investor under the terms of the notes offered, and therefore, you will receive shares of a Shadow Series with certain limited rights. Shadow Series shareholders may receive a different liquidation preference, may not have voting rights, and will receive quarterly business updates by the company but may be limited in other information and inspection rights.

    This is an early stage company. It has limited history, and limited revenues. If you are investing in this company, it’s because you think this is a good idea, that the founders can execute it better than their competition, that they can price inventory and services right and sell to enough people that the company will succeed. You are taking all these things on faith, because it’s impossible to know what will happen. We are dependent upon additional capital resources for the continuation of our planned principal operations and are subject to significant risks and uncertainties, including failing to secure funding to operationalize our planned operations or failing to profitably operate the business.

    The company has no cash on hand and is dependent on the CEO for cashflow. The company’s CEO is entitled to retain, and generally retains, 100% of the company’s non-reinvested annual net earnings, totaling $23,000 as of December 31, 2016 and leaving the company with $0 net revenues in 2015. Even if the company implements an annual salary for the CEO, the members of the company generally use company funds to pay expenses on the company’s behalf, collect the company’s revenues, loan the company money, and hold company funds. These expenses totaled $2,622 as of December 31, 2015. The company is thus dependent on the CEO for cash for its operations.

    Our business is seasonal and weather and natural disasters may disrupt the industry. Most of our revenue comes in the summer months of June, July and, August when the weather permits more customers to ride bikes. If we experience more rain one year than others, our revenues will fluctuate yearly and we may not make as much money as we projected for the year. Rain, lightning, or other weather may adversely impact demand for bike rentals. Seasonal weather conditions may shorten the bike rental season. Additionally, extreme weather conditions such as hurricanes and floods, or natural disasters such as earthquakes may affect operations at our bike rental locations. Even if we expand to other cities like San Francisco and Toronto, the seasonality of the service will continue and may negatively impact the financial status of our company.

    We have a small management team. We depend on the skills and experience of Zach Herrington-Shane, who works full-time for the company, and Lucas Nivon who is an advisor to the company. Our ability to raise sufficient capital may have an impact on our ability to attract and hire the right talent.

    We will need more people to join our company. We will need additional employees, and people with the skills necessary to ensure we create and sell premium services. The people we bring on should come with specialized skills that will bring value to the company. There are no guarantees that we will be able to find the right people for the job.

    The company is controlled by its officers and members. Zach Herrington-Shaner and Lucas Nivon hold all of the company’s voting stock, and at the conclusion of this offering will continue to hold the majority of the company’s voting rights. They hold the company’s LLC Membership Interest, each with one vote equal to the vote of each other Member, regardless of the Member’s share of Membership Interest in the company. Investors in Crowd Notes may not have the ability to control a vote by the members.

    Future fundraising may affect the rights of investors. In order to expand, the company is likely to raise funds again in the future, either by offerings of securities or through borrowing from banks or other sources. The terms of future capital raising, such as loan agreements, may include covenants that give creditors greater rights over the financial resources of the company.

    We have a number of competitors. There are already companies actively providing hourly and daily rental bikes to consumers in our target markets (e.g., NYC CitiBike, Seattle’s Pronto CycleShare, etc.). While these companies may not provide monthly rentals, they may be able to provide services that achieve similar benefits to consumers at a lower price.

    The company is going to need more money. We might not sell enough Crowd Notes both in the Regulation CF offering and our concurrent 506(c) offering to meet our operating needs and fulfill our plans, in which case we will cease operating and you will get nothing. Even if we raise everything we are looking for, we will probably need to raise more funds in the future, and if we can’t get them, we will fail. Even if we do make a successful offering in the future, the terms of that offering might result in your investment in the company being worthless because later investors might get better terms.

    We rely on third-parties to purchase our bicycles and other materials for our business. We contract with third-parties to purchase our bicycles and other supplies and equipment. If these third-parties face manufacturing constraints, that could impact our ability to purchase enough bicycles and material needed to deliver our services. There are multiple sources for all these major raw materials. While we could change suppliers, doing so may negatively impact our financial results.

    The potential markets for our products are characterized by rapidly changing technology, evolving industry standards, frequent enhancements to existing treatments and products, the introduction of new services and products, and changing customer demands. The company’s success could depend on our ability to respond to changing product standards and technologies on a timely and cost-effective basis. In addition, any failure by the company to anticipate or respond adequately to changes in technology and customer preferences could have a material adverse effect on its financial condition, operating results, and cash flow.

    We have an outstanding line of credit. We have entered into a line of credit of up to $10,000 of which we have drawn $9,900 to finance fleet bicycles. The line of credit does not have a maturity date but requires a minimum payment of 2.5% of capital each month, which we will have to pay out of our cashflow.

    You can’t easily resell the securities. There are restrictions on how you can resell your securities for the next year. More importantly, there is no market for these securities (or the equity securities into which they will eventually convert), and there might never be one. It’s unlikely that the company will ever go public or get acquired by a bigger company. That means the money you paid for these securities could be tied up for a long time.

    General Risks and Disclosures

    Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.

    Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for these shares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when the company either lists their shares on an exchange, is acquired, or goes bankrupt.

    The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.

    Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.

    You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events — through continuing disclosure that you can use to evaluate the status of your investment.

    Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company’s employees, including its management. You should carefully review any disclosure regarding the company’s use of proceeds.

    Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.

    Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company’s board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.

    Pedal Anywhere's Form C

    The Form C is a document the company must file with the Securities and Exchange Commission, which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Download Pedal Anywhere's  Form C

    Frequently Asked Questions

    About Side by Side Offerings
    What is Side by Side?

    A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.


    What is a Form C?

    The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.


    What is Rule 506(c) under Regulation D?

    Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.


    What is Reg CF?

    Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $1 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive shares, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.


    Making an Investment in Pedal Anywhere
    How does investing work?

    When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by Pedal Anywhere. Once Pedal Anywhere accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Pedal Anywhere in exchange for your shares. At that point, you will be a proud owner in Pedal Anywhere.


    What will I need to complete my investment?

    To make an investment, you will need the following information readily available:

    1. Personal information such as your current address and phone number
    2. Employment and employer information
    3. Net worth and income information
    4. Social Security Number or government-issued identification
    5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

    If you are investing under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


    What is a Crowd Note?

    The Crowd Note is a security which allows crowd investors to largely realize the same economic benefit traditional investors have historically received when investing in startups. For a convertible note round, investors under $20,000 will have their investment convert into preferred equity at liquidity event, locking in a share price at a discount to the next priced round, and will have an interest rate on their investment. Investors investing $20,000 and over will convert into preferred equity at the subsequent priced round at a discount to that priced round and will have an interest rate on their investment. For a priced round, investors under $20,000 will have their investment convert into preferred equity at a liquidity event, locking in the share price of the current round.


    How much can I invest?

    An investor is limited in the amount that he or she may invest in a Reg CF offering during any 12-month period:

    • If either the annual income or the net worth of the investor is less than $100,000, the investor is limited to the greater of $2,000 or 5% of the lesser of his or her annual income or net worth.
    • If the annual income and net worth of the investor are both greater than $100,000, the investor is limited to 10% of the lesser of his or her annual income or net worth, to a maximum of $100,000.

    Separately, Pedal Anywhere has set a minimum investment amount of US $500.

    Accredited investors investing $20,000 or over do not have investment limits.


    After My Investment
    What is my ongoing relationship with the Issuer?

    You are a partial owner of the company, you do own shares after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.

    In certain circumstances a company may terminate its ongoing reporting requirement if:

    1. The company becomes a fully-reporting registrant with the SEC
    2. The company has filed at least one annual report, but has no more than 300 shareholders of record
    3. The company has filed at least three annual reports, and has no more than $10 million in assets
    4. The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
    5. The company ceases to do business

    However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.


    How can I sell my shares in the future?

    Currently there is no market or liquidity for these shares. Right now Pedal Anywhere does not plan to list these shares on a national exchange or another secondary market. At some point Pedal Anywhere may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when Pedal Anywhere either lists their shares on an exchange, is acquired, or goes bankrupt.


    How do I keep track of this investment?

    You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.


    Other General Questions
    What is this page about?

    This is Pedal Anywhere's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the Pedal Anywhere's Form C. The Form C includes important details about Pedal Anywhere's fundraise that you should review before investing.


    How can I (or the company) cancel my investment under Regulation CF?

    For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours before a closing occurs or an earlier date set by the company. You will be sent a reminder notification approximately five days before the closing or set date giving you an opportunity to cancel your investment if you had not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your shares have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, let SeedInvest know by emailing cancellations@seedinvest.com. Please include your name, the company's name, the amount, the investment number, and the date your made your investment.


    What if I change my mind about investing?

    If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your shares have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please email us at cancellations@seedinvest.com. Please include your name, the company's name, the amount, the investment number, and the date your made your investment.