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Swiftmile 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 % of the value of the securities sold and equity compensation equal to % 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, the contents of the Highlights, Term Sheet, Market Landscape sections have been prepared by SI Securities and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by Swiftmile without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile 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.

About Swiftmile

Our eBikes are locked into our solar powered charging/docking system. Our app works as a “virtual Key” allowing users to locate a charging station then Tap, Rent, and Roll. The eBikes have a 40 mile range, speeds up to 20 mph, making them a bike in the eyes of the law (not a motorized vehicle), and therefore requiring no license or insurance special registration. All of our eBikes have microcomputers on them with GPS/Accelerometers, as do the solar charging stations. We collect data as the bikes move. When a user is done they get “fitbit” like data as a receipt showing time, distance, fuel saved, carbon offset, calories burned, and a map of their ride. We also share this data with the companies we partner with to show how many rides their employees are taking, how they are lowering their carbon footprint, and how healthy their employees are.

Product & Service

Swiftmile partners with best of breed eBike manufacturers to "share enable" fleets of eBikes that in turn fit into our locking/docking/charging stations. These fleets are sold or leased to corporations or hotels as a complete turn-key eBike sharing system. All of our eBikes and charging stations have microcomputers, GPS, and cellular radios that allow us to run diagnostics, manage maintenance, track inventory, and issue end user receipts through our app. We have utility patents pending for our system.

Media Mentions

The Team

Colin Roche

Founder, CEO

Colin Roche, in addition to being the company President and Chief Executive Office, is responsible for driving innovation and growth. The Swiftmile sales and marketing teams report directly to Colin. Colin brings extensive experience in product design, sales, and business development extending over a 20-year career. 

Colin’s first major success as an entrepreneur started with his founding of Pacific Writing Instruments, where he invented and designed a new writing instrument centered around ergonomics. He built this into a globally distributed brand carried in over 25 countries with retail distribution in over 30,000 retail locations. After successfully selling the company to a larger office supply company he joined Jiawei Solar as VP of Sales. With his direction he was able to guide the company through an IPO in 2011. After two other roles as a “C” level leader, in which he helped guide acquisitions, he founded Swiftmile, with the vision of helping solve congestion and pollution in our daily lives.

Keith Moravick

Co-founder, CTO

Keith Moravick, the company’s Chief Technology Officer, is responsible for managing the engineering and research and development arms of the company. Keith is the company’s senior technology leader and visionary. 

Keith began his professional career in 1992 where he worked as an Optical Engineer for Kaiser Aerospace. After working in the defense industry, Keith went to work for Spectra Physics as a Laser Engineer in the solid-state laser division. Keith and several colleagues from Spectra Physics went on to build Arcturus Engineering, a biotech start-up which was focused on applying laser technology to bio-medical applications. Because of high demand for his services, in 2007 Keith started his own consulting business focused on guiding engineering teams in medical device design, manufacturing, and IP generation. Keith earned a bachelor's degree in Physics with concentrations in electro-optics and mechanical design and holds more than a dozen US, EU, and WO Patents

Leandro Vera

Co-founder, COO

Leo Vera, the company’s Chief Operating and Financial Officer, is responsible for managing the customer service, supply-chain, finance, and operations departments. Leo leads Swiftmile operations with a strong financial background, along with proven executive and leadership experience. Leo commenced his working career at Coopers and Lybrand LLP in San Jose in the Audit practice in 1994 before turning to business consulting with the Deloitte Consulting Group in 1997 and then later with the IBM Business Consulting Group. Between 2006 and 2011, Leo worked as a Controller and Managing Director of a private engineering company in the aluminum industry with global responsibility for sales, R&D, manufacturing, and operations.

Leo commenced his career in the motion furniture industry in 2011, with responsibility for operations and finance for Santa Barbara-based Ergomotion as its COO and CFO. After growing the company to over $100MM in sales, taking over as its President and CEO, and later successfully selling the company to a strategic industry player, Leo co-founded Swiftmile along with Colin to embark on the important work of ushering in the Light Electric Age

Colin Roche

Founder, CEO

Colin Roche, in addition to being the company President and Chief Executive Office, is responsible for driving innovation and growth. The Swiftmile sales and marketing teams report directly to Colin. Colin brings extensive experience in product design, sales, and business development extending over a 20-year career. 

Colin’s first major success as an entrepreneur started with his founding of Pacific Writing Instruments, where he invented and designed a new writing instrument centered around ergonomics. He built this into a globally distributed brand carried in over 25 countries with retail distribution in over 30,000 retail locations. After successfully selling the company to a larger office supply company he joined Jiawei Solar as VP of Sales. With his direction he was able to guide the company through an IPO in 2011. After two other roles as a “C” level leader, in which he helped guide acquisitions, he founded Swiftmile, with the vision of helping solve congestion and pollution in our daily lives.

Keith Moravick

Co-founder, CTO

Keith Moravick, the company’s Chief Technology Officer, is responsible for managing the engineering and research and development arms of the company. Keith is the company’s senior technology leader and visionary. 

Keith began his professional career in 1992 where he worked as an Optical Engineer for Kaiser Aerospace. After working in the defense industry, Keith went to work for Spectra Physics as a Laser Engineer in the solid-state laser division. Keith and several colleagues from Spectra Physics went on to build Arcturus Engineering, a biotech start-up which was focused on applying laser technology to bio-medical applications. Because of high demand for his services, in 2007 Keith started his own consulting business focused on guiding engineering teams in medical device design, manufacturing, and IP generation. Keith earned a bachelor's degree in Physics with concentrations in electro-optics and mechanical design and holds more than a dozen US, EU, and WO Patents

Leandro Vera

Co-founder, COO

Leo Vera, the company’s Chief Operating and Financial Officer, is responsible for managing the customer service, supply-chain, finance, and operations departments. Leo leads Swiftmile operations with a strong financial background, along with proven executive and leadership experience. Leo commenced his working career at Coopers and Lybrand LLP in San Jose in the Audit practice in 1994 before turning to business consulting with the Deloitte Consulting Group in 1997 and then later with the IBM Business Consulting Group. Between 2006 and 2011, Leo worked as a Controller and Managing Director of a private engineering company in the aluminum industry with global responsibility for sales, R&D, manufacturing, and operations.

Leo commenced his career in the motion furniture industry in 2011, with responsibility for operations and finance for Santa Barbara-based Ergomotion as its COO and CFO. After growing the company to over $100MM in sales, taking over as its President and CEO, and later successfully selling the company to a strategic industry player, Leo co-founded Swiftmile along with Colin to embark on the important work of ushering in the Light Electric Age

Notable Advisors & Investors

Jamie D'Allessandro

Investor, Principal, Windy Hill Property Ventures

Leandro Vera

Investor, Co-founder, Swiftmile

verizon ventures

Investor, Corporate VC division of Verizon

Chris Hens

Investor, Principal, Teton Growth Partners

Alex Edelstein

Investor, CEO and CPO, The Fr8 Company

Scott Anschuetz

Investor, CEO and Founder, Visualize, Inc.

Martin Rawls-Meehan

Investor, CEO, Reverie

Plug And Play

Advisor, A global innovation platform for startups, corporations, and investors

Ajay Ramachandran

Advisor, Managing Partner, BootUp Capital

Curtis Mcdonald

Advisor, Venture Capitalist, High-Tech Gruenderfonds

Mukul Agarwal

Advisor, Founder, Hello Startups

Marco Ten Vaanholt

Advisor, Founder and President, BootUp

Q&A with the Founder

  • Describe competition overview, competitive advantage, and barriers to entry.
    Standard bike share (non-electric) operators: U.S. players Zagster, Social Bikes and Motivate. They all provide only standard bikes they manufacture and are geared towards large, city wide installations. Our locking/docking charging stations are built to adapt to a wide variety of eBike manufacturers we partner with, making ours a universal system, which we believe is a huge competitive advantage. We don’t have to target large installs which take years to close. We can deploy in small installations at corps, hotels, and universities. A barrier to entry is the development of the charging stations themselves. We have a 2 year lead because we started first with designing the whole connected charging system as opposed to the bike itself which all the others are caught up in. For the eBike, we partnered with a manufacturer upfront, letting them absorb the eBike cost. Going forward we can work with any eBike manufacturer to fit into our system. We believe this will allow us to take advantage of all of the innovation in the eBike world.
  • Describe market overview and customer pipeline.
    About 96 million people work within 10 miles of where they live, yet most drive and sit in traffic and congestion, which is getting worse in every major metropolitan market. Standard Bike share is taking off, today a $5.6 billion market, still gets low use rates because commuters don’t want to sweat. Our eBikes are the perfect fit. In addition, the eBike market is taking off also: it is a $15.6 billion market today. These are being seen as the ideal vehicle to fit into the sharing economy for short distance trips. Our pipeline includes: Tesla, Uber, Lockheed, Merck, Cisco, Stanford, West/Sheraton Hotel, Nest, Ford. We already have Google and the 10th largest transit authority as pilot customers.
  • What are the exit opportunities?
    Most likely an acquisition. Ford just acquired Chariot shuttles and did a 5 year agreement with Motivate (citi bikeshare, non electric). VW, GM, and BMW are all coming out with new eBikes that they are looking to become part of the multi-modal solutions set for transportation. In our opinion, it only makes sense that they would acquire a “sharing” system that could scale the use of these quickly. In China, Mobike just raised $215 million for their non-electric bike share system, Ovi bikes raised $100 mm. We believe they will want to expand into the U.S. It will be natural that these groups will want to also bring on eBikes into their offering. We have a jump on the market to deploy this now, ahead of others.
  • Give a description of business model and pricing.
    We are BaaS or Bikes as a Service. We charge a set-up and onboarding fee to install our turn-key eBike sharing system at corporations (to start). Past that, it's $100 month per bike for service/maintenance then we charge for usage. Whenever the bike is moving we charge. Works out to about $5/half hour. We retain all of the assets and depreciation.
  • What is the company’s customer acquisition or go-to-market strategy? Explain.
    To start, we will target corporations where we can deploy in small quantities to show the value and demand of our system, then upsell to our standard 28 eBike system. This method allows for a quicker sales cycle and allows us to prove value. Then we can increase our install base with each customer by adding more eBikes to the flock. We will then go after hotels, universities, cities, and dense housing developers.
  • 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.

    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 Swiftmile
    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 Swiftmile. Once Swiftmile accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Swiftmile in exchange for your shares. At that point, you will be a proud owner in Swiftmile.


    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.


    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, Swiftmile has set a minimum investment amount of US $0.

    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 Swiftmile does not plan to list these shares on a national exchange or another secondary market. At some point Swiftmile 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 Swiftmile 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 Swiftmile'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 Swiftmile's Form C. The Form C includes important details about Swiftmile'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, you may go to your portfolio page


    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 go to your portfolio page.