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Invest in Valeet

Curbside valet parking at the airport

  • $305,174Amount raised
  • $5,000Minimum
  • $9,000,000Valuation cap

Purchased securities are not currently tradeable. Expect to hold your investment until the company lists on a national exchange or is acquired.

Share:

Valeet is accepting investments for an Offering under Regulation D. The contents of the Highlights, Term Sheet sections have been prepared by SI Securities, LLC (“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 Valeet 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. These statements reflect management’s current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially. Investors are cautioned not to place undue reliance on these forward-looking statements as they are meant for illustrative purposes and they do not represent guarantees of future results, levels of activity, performance, or achievements, all of which cannot be made. Moreover, no person nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements, and is under no duty to update any such statements to conform them to actual results.


Company Highlights

  • Raised $2.5M+ from Investors including Plug and Play & Andreas Mihalovits
  • Accelerated by SeedRocket, Plug and Play, and Campus Madrid (a Google Space)
  • Launched in 6 airports (MAD, BCN, OAK, LAX, NYC & MIA), which combined, serve nearly 300 million passengers annually.
  • Company was profitable in MAD & BCN locations Q2 & Q3 of 2018 and in LAX & NY in July 2018
  • Market for long term airport parking and ride hailing to the airport exceeds $5 billion in Europe & USA alone

Fundraise Highlights

  • Total Amount Raised: US $305,174
  • Total Round Size: US $2,000,000
  • Raise Description:  Seed
  • Minimum Investment:  US $5,000 per investor
  • Security Type:  Crowd Note
  • Valuation Cap:  US $9,000,000
  • Maximum Raise Amount:  US $2,000,000

Curbside valet parking at the airport. Valeet is travel made easy.


For the avoidance of doubt, references throughout the profile and other offering materials to the "Company" or "Valeet" are to the consolidated operations of Valeet Parking Solutions, S.L, a Spanish company, and its subsidiary, Valeet, Inc., a Delaware Corporation. 

Traveling is a $8 trillion global  industry.  On average, each day,  more than 8 million people get on a plane and travel whether domestically or internationally. 

Traveling is all about having a great experience and that is why airlines and other players are trying to enhance travelers' experience by selling upgrades to the trip: better seats, better meals, more luggage, fast lanes at customs, etc... but a trip does not start at the airport. It starts at your home or office, and options to get to the airport are typically inconvenient and/or expensive. 

Valeet delivers a curbside valet parking experience at the airport, allowing travelers to drive their own cars straight to the terminal.

Traction To Date:

  • Since July 2017, Valeet has launched at 6 major airports in the U.S. & Europe, parking ~10,000 cars with average MoM revenue growth of 74%.

  • Already present in  New York (JFK), Los Angeles (LAX), Miami (MIA), Oakland (OAK), Madrid (MAD) & Barcelona (BCN).
  • Valeet plans to launch in Latin American airports by the end of the year and continue expanding in the current markets.

Product & Service

Product

Valeet is a unique solution that allows users to drive their own cars straight to a terminal, reducing the friction right at the beginning of a trip.

Travelers can use our mobile apps (iOS & Android) or web app to book a valet with just a few clicks. When a user arrives at the airport, one of our drivers will be waiting, curbside, to pick up the car and securely take it to one of our parking lots. When that user returns, their car will be waiting for them, curbside as well. No more shuttles to the long-term parking, and with one more click, users can also request the car be returned washed or filled up with gas.

At the destination airport, and thanks to our agreements with Car Rental companies, we can also deliver a curbside rental car experience, eliminating the need for a shuttle to the rental car lot, helping make travel hassle-free, from beginning to end.

Pricing

  • Our pricing varies in each city but it ranges from $20 - $45 the first day and $5 - $20 each day after that.
  • Car washes range from $10 - $50 and the gas refill option has a service fee of $7.
  • Car rental pick-up or delivery costs $20 each.

Our Customers

Our customers use Valeet both for leisure and business and we've identified that business travelers are more recurrent (we estimate that business travelers account for 60% of our bookings based on date of departure and average stay). That is why we are now actively pushing towards acquiring business travelers as customers as well as their companies.

Unit Economics

Our lead time is ten days on average and the average stay is approximately five days, making it simple for us to plan in advance and deliver a delightful experience.

Average ticket in the US markets is +$100 & 45Euros in the European markets. We are in the process of increasing the per booking unit economics with different strategies:

  • Increasing the per day pricing as we started off with a discounted pricing strategy to acquire our first customers.
  • Closing deals with nationwide, long-term parking companies to cut our parking costs.
  • Delivering a range of services beyond valet parking, including a rent-a-car experience at destination, curbside as well (we already signed a partnership with rental car companies to deliver a proof of concept in Spain).

Customer Reviews

  • Brooke Price: "I couldn't have had a better experience with Valeet and will use them every time we travel! We worked with Robert in Oakland for a 12-day trip and had the best experience. We arrived at the airport early and Robert accommodated us and was there even before we arrived! On the way home, I changed my flight to an earlier flight and he was still waiting outside of baggage claim! I was traveling alone with my two young children and couldn't have handled the baggage and shuttle to the parking lot on my own. Robert was friendly, professional, EARLY, and made everything go so smoothly! And the best part, the prices were the same as I would have paid if I'd parked at an off-airport lot and struggled with a shuttle!!! Three cheers for Robert and Valeet!"
  • Sharon Walker: "Fantastic service! I was hesitant as it\u2019s so new to LA and there weren\u2019t many reviews. But I took a chance and am so pleased! Very competitive rates and the hassle-free service dropping off and picking up at airport can\u2019t be beaten (especially when taking a baby and a surfboard!) We were late arriving at LAX and wish I could have contacted our driver directly to let him know. However, he was still there waiting for us and was friendly and kind (not put off that we were late in any way). Our return driver, Felicia, was fantastic, upbeat and friendly, especially for a 6 am arrival! We will definitely be repeat customers!"
  • Matthias Clark: "We are stoked to be using Valeet all year. We fly out of LAX often and leaving a car at a long-term parking is a drag. Valeet is easy and it is a great pleasure to get in our own car right at the arrivals terminal. Blows away parking at my brother's house and taking an Uber. Thanks Valeet, your drivers are smart well spoken and always there!"

*Disclaimer: The above individuals were not compensated in exchange for their testimonials. In addition, their testimonials should not be construed as and/or considered investment advice.

Roadmap

Our plan is to continue our expansion in the U.S. during 2018 launching into at least 5 more markets. Before the end of the year, we want to test Latin America to validate the market and to prepare our 2019 expansion plan (Europe & LATAM).

Media Mentions

Team Story

Valeet started out as a project aimed to reduce time lost with zero value tasks, like parking. With that idea in mind, Carlos Jimenez, founder and CEO, convinced Andrea Retamal (CXO) & Jorge Reyero (CTO) to join him in his crusade and start the company. This was April 2016. Six months later, Valeet's App was launched in Beta and publicly released in December with an On-Demand Valet Parking proposition.

The relationship between the three founders  started out way back. Andrea and Carlos have been married since 2012 and have co-funded and worked together in several companies like trōv and Social Mobility. Jorge and Carlos have known each other for over 10 years and have worked togethers in previous startups like Quadram.

Founders and Officers

After several years launching revolutionary projects in Silicon Valley and obsessed with the loss of time, Carlos decided to create and launch Valeet with the idea of offering the best mobility and traveling solution to people facing the problem of losing time when traveling. As founder and CEO of Valeet, Carlos is responsible for leading the growth of the company.

Carlos graduated in Computer Engineering and has spent the last ten years as an entrepreneur, CEO or in executive positions in national and international companies such as trōv, Movoto, Ludei, Quadram or Social Mobility, obtaining millions of dollars in funding and creating products used by users all over the world.

Carlos Jimenez

CEO

After several years launching revolutionary projects in Silicon Valley and obsessed with the loss of time, Carlos decided to create and launch Valeet with the idea of offering the best mobility and traveling solution to people facing the problem of losing time when traveling. As founder and CEO of Valeet, Carlos is responsible for leading the growth of the company.

Carlos graduated in Computer Engineering and has spent the last ten years as an entrepreneur, CEO or in executive positions in national and international companies such as trōv, Movoto, Ludei, Quadram or Social Mobility, obtaining millions of dollars in funding and creating products used by users all over the world.

After living 4 years in Silicon Valley as a Creative Director & Lead UI/UX in companies like Social Mobility or Trov Inc,  Andrea co-founded Valeet and leads everything related to the User Experience (Design, Product & Customer Support)

Andrea Retamal

CXO

After living 4 years in Silicon Valley as a Creative Director & Lead UI/UX in companies like Social Mobility or Trov Inc,  Andrea co-founded Valeet and leads everything related to the User Experience (Design, Product & Customer Support)

Passionate about Technology, with more than 9 years of experience working with the latest technologies in companies such as Quadram, Wiggle.co, Volkswagen or eKeeper, Jorge decided to join Carlos in founding Valeet as CTO.

Jorge Reyero

CTO

Passionate about Technology, with more than 9 years of experience working with the latest technologies in companies such as Quadram, Wiggle.co, Volkswagen or eKeeper, Jorge decided to join Carlos in founding Valeet as CTO.

With a background in Marketing, Communications and Finance, Ignacio has spent the last 10 years as CMO in startups like Washrocks, Drinkets, and Fever or as CEO launching his own startups like Gossip or Crown & Dogs.

He joined Valeet as CMO before the product was even launched and has been a key member of the management team along the the 3 founders. 

Ignacio Espada

CMO

With a background in Marketing, Communications and Finance, Ignacio has spent the last 10 years as CMO in startups like Washrocks, Drinkets, and Fever or as CEO launching his own startups like Gossip or Crown & Dogs.

He joined Valeet as CMO before the product was even launched and has been a key member of the management team along the the 3 founders. 


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Notable Advisors & Investors

Plug and Play
Andreas Mihalovits

Investor Perks

  • $5,000 ("MADRID") - 5 days of free Valeet each month for a year plus free swag.
  • $15,000 ("BARCELONA") - 15 days of free Valeet each month for a year plus free swag.
  • $45,000 ("SAN FRANCISCO")All the perks included in  BARCELONA, plus a free car wash every time you use Valeet.
  • $100,000 ("LOS ANGELES") - All the perks included in  SAN FRANCISCOplus participating in the quarterly call with Valeet's senior management.
  • $250,000 ("NEW YORK") - All the perks included in  LOS ANGELESplus paid airfare (domestic and international) to Valeet's HQ for a personal tour and a one-time dinner with Valeet's senior management team.
  • $500,000 ("MIAMI") - All the perks included in NEW YORK, plus access to the company general Slack channel.

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

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

Frequently Asked Questions

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


What is the difference between preferred equity and a convertible note?

Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.

A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.

To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.


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 passport
  5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

Because Valeet is offering its securities 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 if I change my mind about investing?

Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your securities 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.


After My Investment
How can I sell my securities in the future?

Currently there is no market or liquidity for these securities. Right now Valeet does not plan to list these securities on a national exchange or another secondary market. At some point Valeet 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 Valeet either lists their securities 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.


Other General Questions
What is this page about?

This is Valeet'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.


What are the risks of this investment?

This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in Valeet’s profile.