- Achieved $470k in 2018 revenue, +99% growth compared to 2017 (based on unaudited financials).
- After launching in Q3 2016, secured 4,000+ registered users, 1,500+ classic automobiles listed, over 1,000+ rental deals to date.
- Agreement in place to provide rentals and experiences to Club Sportiva and collaboration with Marriott’s Autograph Collection Hotels to provide rentals for their road trip packages.
- Customers include Cartier, Nordstrom, 76, Netflix, and Marriott. Inventory can be seen in campaigns for Yves Saint Laurent, L’Oreal, and General Motors.
- Founders have bootstrapped the business to date.
- Total Amount Raised: US $51,096
- Total Round Size: US $750,000
- Seed :
- Minimum Investment: US $1,000 per investor
- : Preferred Equity
- US $3,000,000 :
- Side by Side Offering
Book Unique Classic Cars for Professional and Life Events.
Founded in 2016 in California, Vinty was inspired by the passion for great classic cars. With limited funds and resources (we are bootstrapped and have no debt), we were able to reach $470k in sales in 2018, a 20x increase since 2016. We were also able to gather an inventory of 1,500+ cars while focusing our efforts mostly in California.
We now want to take Vinty to the next level with your help!
Marketplaces allowing individuals to turn underutilized goods into revenue-generating assets have gained traction over the past few years. The key to success in this industry is to solve a problem for both sides of the marketplace.
Inventory Problem: As classic car owners, we learned first-hand how expensive it can be to maintain vintage cars. A large portion of vintage and classic cars are seldom driven, so we decided to focus on building a platform to turn them into revenue-generating assets.
Demand Problem: Several industries have a recurring need for classic cars. Service Providers (Event and Wedding Planners), Video/Movie Production Companies, and Advertising Agencies are often looking for ways to stand out and convey emotions. What better way to do so than vintage cars? However, they are frustrated by the limited offering of classic cars for rent and the outdated online solutions available. They also need a trusted partner that can deliver top quality service (delivery, driver, coordination).
Vinty solves issues for both classic car owners and renters with a modern and easy-to-use platform.
We have seen success and steady growth with our concept over the past 2 1/2 years. We have learned a lot from the market to refine our strategy and we are now ready to bring Vinty to its full potential with your help.
- Vinty takes a commission on platform transactions (~27% on average).
The average transaction on Vinty is $925.
Vinty offers two levels of service:
- A self-serving platform where users can contact classic car owners and arrange for a rental.
- A premium customer service center for recurring clients and large events where the Vinty Client Service team provides assistance in finding vehicles, arranging for extra services, etc.
In addition to the car rental service, Vinty also provides peripheral services to meet the needs of its clients. These services include delivery, handler or driver, and coordination of large fleets. These services are key differentiators from our competition. We believe they are essential to the specialized markets we target.
We also intend to develop services offered to our community of car owners such as transportation, detailing, maintenance, community events, etc.
Vinty aims to serve professional service providers with a recurring need for classic cars. Our target clients are looking for unique ways to make their work stand out (advertising, movies, music videos, corporate events, private parties, organized tours, weddings, etc.).
Our customers are not only looking for vintage cars but also for the top-level customer service that Vinty provides.
In our two first years of experience, we were able to attract marquee customers that used our services in campaigns for Yves Saint Laurent, Cartier, General Motors, Nordstrom, 76, Netflix, and many more...
We have also put an agreement in place to provide rentals and experiences to Club Sportiva (an exotic car "timeshare" club in CA) and collaborated with Autograph Collection Hotels, part of Marriott International, Inc., to provide classic cars for road trip packages.
What Our Clients Are Saying
- Smoothly run, nice clients, easy gig! A well-managed event which involved 12 cars. The Vinty guys are professional and super at communicating, which makes them easy to work with; and easy to provide clients the optimal experience they are looking for. - Jim M. - February 2019
- Vinty was an all-around pleasure to work with. Reserving a car was easy and efficient. Everyone in the company was professional throughout our interactions, and they quickly put me in touch with the owner of the car to facilitate quick and easy communication. I would use their service again, without question, and I would recommend them to all of my family and friends. Top notch company! - Michael G. - December 2018
- We contacted Vinty about having several cars on display at a large corporate event. There were quick to respond and found us a number of beautiful cars that were perfect for our event. He arranged for everything to be delivered. Everyone was on-time and the whole process for us was a breeze. I will definitely use Vinty again. - Julie H. - September 2018
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.
Our current platform is powered by a combination of Software-as-a-Service (SaaS) solutions. This strategic choice allowed us to launch Vinty with limited funds and to quickly learn as much as possible from the market. Based on the feedback we received and the research conducted during our 2 years of operation, we have now started to develop our own platform. It will provide an enhanced user experience thanks to several new features (i.e. SMS Integration), improve our conversion rate, and allow us to scale Vinty.
As a true classic car aficionado, Pierre Lapointe (CEO) experienced firsthand how expensive vintage cars can be to own and maintain. He struggled more and more to justify that extra cost while getting ready to start a family. At the same time, he realized that his entourage kept asking him where they could rent a classic car for various types of use (wedding pictures or transportation, private or corporate parties, music videos, etc.).
After doing some research, he found out that the available options were truly outdated and underwhelming...that is when the concept of Vinty was born. A marketplace to connect people with a need for classic cars with the owners of these cars everywhere in the US (...and hopefully soon in the world).
Pierre then turned to two close friends he had known for over 10 years to form the Vinty team: Thomas Poulain and Thomas Dubois. He knew that their skillsets were complementary, that they loved classic cars, and that they shared his approach to building a company: they all wanted to build a sustainable business with a methodical approach. The Vinty team is relentless, data-driven, pragmatic, and cost-conscious. Decisions are based on what the market teaches us, not what we want.
Have you participated in any accelerator programs? If so, please detail.
Yes, we graduated from the Springboard Connect Accelerator in San Diego this year.
Are all founders currently full-time?
Please detail your product/platform and its key use cases.
Vinty caters primarily to B2B clients seeking classic cars for various professional events. The main use cases include: corporate event display and tours, advertising production, movie/TV production, wedding transportation, and leisure rentals.
Please detail your competitive advantages.
We do not see a significant competitor addressing our "high-touch" B2B markets and our current competitors do not provide additional services. Our competition would need to alter their business model to serve the clients we are targeting.
Who do you view as your closest competitors and what key factors differentiate yourselves?
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.
US $51,096 (under Reg CF only)
All non-Major Purchasers will be subject to an Investment Proxy Agreement (“IPA”). The IPA will authorize an investment Manager to act as representative for each non-Major Purchaser and take certain actions for their benefit and on their behalf. Please see a copy of the IPA included with Company's offering materials for additional details.
Investors who invest $50,000 or less will have their securities held in trust with a Custodian that will serve as a single shareholder of record. These investors will be subject to the Custodian’s Account Agreement, including the electronic delivery of all required information.
Our first 50 investors will receive an exclusive set of Vinty car accessories (in addition to the perks listed below)
Invest $1,000 - All investors will receive a Vinty T-Shirt
Invest $2,500 - Receive a Vinty Polo Shirt, Vinty bottle, and either no commission on your next rental (car owners) or 20% off a one-day rental (renters - up to $150)
Invest $10,000 - Receive a Vinty Polo Shirt, hat, bottle, and either no commission on your next 3 rentals (car owners) or 50% off a one-day rental (renters - up to $600)
Invest $50,000 - All of the above (with a free 1-day classic car rental) plus a Private Online Q & A with Founders
Invest $100,000 - All of the above plus a Vinty swag bag and an invitation to a dinner with the founders in Los Angeles, and quarterly call with the CEO
It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.
Vinty, Inc. (“the Company”) is a corporation organized under the laws of California. The Company operates an online marketplace that rents out classic cars to individuals.
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).
Liquidity and Capital Resources
The proceeds from the Offering are essential to our operations. We plan to use the proceeds as set forth above under "Use of Proceeds", which is an indispensable element of our business strategy. The Offering proceeds will have a beneficial effect on our liquidity, as we have approximately $9,000 in cash on hand as of 3/31/3019 which will be augmented by the Offering proceeds and used to execute our business strategy.
The Company currently does not have any additional outside sources of capital other than the proceeds from the Combined Offerings.
Capital Expenditures and Other Obligations
The Company intends on investing $60K-$75K in 2019 to further enhance and develop its product platform
Trends and Uncertainties
After reviewing the above discussion of the steps the Company intends to take, potential Purchasers should consider whether achievement of each step within the estimated time frame is realistic in their judgment. Potential Purchasers should also assess the consequences to the Company of any delays in taking these steps and whether the Company will need additional financing to accomplish them.
The financial statements are an important part of this Form C and should be reviewed in their entirety. The financial statements of the Company are attached hereto as Exhibit B.
Through the first 2 1/2 years of Vinty's existence, we listened to what the market and our owners have been telling us. This led us to focus our efforts on serving service providers and professionals with a recurring need for classic cars. Not only do these markets offer higher margins and a higher potential for recurring business, but they also provide a more controlled environment (vs. leisure self-drive rentals) which proved to be a key point for our car owners.
Total Opportunity: We estimate Vinty's Total Addressable Market to be $675M in the US .
Primary Target Markets
- Advertising ($100Bn industry in the US)
- Event Production (1.3M corporate events per year in the USA)
- Film and Television (American Film Industry is a $10Bn market with production costs at $3.6Bn - Transportation accounts for 10% of all production costs)
- Wedding transportation (over 2 million weddings in the US every year with an average budget around $30k)
- High-end Tourism (we estimate a $300M opportunity for classic car rentals)
Owner Community (estimated 20% revenue increase potential)
- Services to Owners
- Audience monetization
- Affiliate opportunities
Turo, DriveShare by Hagerty, and local brick & mortar car companies are the primary competitors in our space. We do not see a single significant competitor addressing our "high-touch" markets. Our competitors are focused on individuals booking a car that will be driven by the renter. They do not offer the support and the additional services (drivers, delivery, organization, etc.) that Vinty provides. These competitors need to alter their business model and technology platform to serve our target markets.
The Company’s cash position is relatively weak. The Company currently has only $9,000 in cash balances as of 3/31/2019. This equates to roughly 2 months of runway (assuming no revenue generation). The Company believes that it is able to continue extracting cash from sales to extend its runway. The Company could be harmed if it is unable to meet its cash demands, and the Company may not be able to continue operations if they are not able to raise additional funds.
Failure to obtain new clients or renew client contracts on favorable terms could adversely affect results of operations. The Company may face pricing pressure in obtaining and retaining their clients. Their clients may be able to seek price reductions from them when they renew a contract, when a contract is extended, or when the client’s business has significant volume changes. Their clients may also reduce services if they decide to move services in-house. On some occasions, this pricing pressure results in lower revenue from a client than the Company had anticipated based on their previous agreement with that client. This reduction in revenue could result in an adverse effect on their business and results of operations.
Further, failure to renew client contracts on favorable terms could have an adverse effect on their business. The Company's contracts with clients generally run for several years and include liquidated damage provisions that provide for early termination fees. Terms are generally renegotiated prior to the end of a contract’s term. If they are not successful in achieving a high rate of contract renewals on favorable terms, their business and results of operations could be adversely affected.
Our principal shareholders own voting control of our Company. Our current officers, directors, founders, and principal shareholders currently own a total of 100% of the total issued and outstanding capital stock of the Company. Our principal shareholders will own a majority of our Common Stock following the Offering. These shareholders are able to exercise significant control over all matters requiring shareholder approval, including the election of directors and approval of significant corporate transactions. This concentration of ownership may have the effect of delaying or preventing a change in control and might adversely affect the market price of our common stock. This concentration of ownership may not be in the best interests of all our shareholders.
The Company does not currently hold any intellectual property and they may not be able to obtain such intellectual property. Their ability to obtain protection for their intellectual property (whether through patent, copyright, or other IP right) is uncertain due to a number of factors, including that the Company may not have been the first to make the inventions. The Company have not conducted any formal analysis of the “prior art” in their technology, and the existence of any such prior art would bring the novelty of their technologies into question and could cause the pending patent applications to be rejected. Further, changes in U.S. and foreign intellectual property law may also impact their ability to successfully prosecute their IP applications. For example, the United States Congress and other foreign legislative bodies may amend their respective IP laws in a manner that makes obtaining IP more difficult or costly. Courts may also render decisions that alter the application of IP laws and detrimentally affect their ability to obtain such protection. Even if the Company is able to successfully register IP, this intellectual property may not provide meaningful protection or commercial advantage. Such IP may not be broad enough to prevent others from developing technologies that are similar or that achieve similar results to theirs. It is also possible that the intellectual property rights of others will bar the Company from licensing their technology and bar them or their customer licensees from exploiting any patents that issue from our pending applications. Finally, in addition to those who may claim priority, any patents that issue from our applications may also be challenged by their competitors on the basis that they are otherwise invalid or unenforceable.
We must correctly predict, identify, and interpret changes in consumer preferences and demand, offer new products to meet those changes, and respond to competitive innovation. Consumer preferences for our products change continually. Our success depends on our ability to predict, identify, and interpret the tastes and habits of consumers and to offer products that appeal to consumer preferences. If we do not offer products that appeal to consumers, our sales and market share will decrease. We must distinguish between short-term fads, mid-term trends, and long-term changes in consumer preferences. If we do not accurately predict which shifts in consumer preferences will be long-term, or if we fail to introduce new and improved products to satisfy those preferences, our sales could decline. In addition, because of our varied customer base, we must offer an array of products that satisfy the broad spectrum of consumer preferences. If we fail to expand our product offerings successfully across product categories, or if we do not rapidly develop products in faster growing and more profitable categories, demand for our products could decrease, which could materially and adversely affect our product sales, financial condition, and results of operations.
In addition, achieving growth depends on our successful development, introduction, and marketing of innovative new products and line extensions. Successful innovation depends on our ability to correctly anticipate customer and consumer acceptance, to obtain, protect and maintain necessary intellectual property rights, and to avoid infringing the intellectual property rights of others and failure to do so could compromise our competitive position and adversely impact our business
In general, demand for our products and services is highly correlated with general economic conditions. A substantial portion of our revenue is derived from discretionary spending by individuals, which typically falls during times of economic instability. Declines in economic conditions in the U.S. or in other countries in which we operate may adversely impact our consolidated financial results. Because such declines in demand are difficult to predict, we or the industry may have increased excess capacity as a result. An increase in excess capacity may result in declines in prices for our products and services.
The Company may be unable to maintain, promote, and grow its brand through marketing and communications strategies. It may prove difficult for the Company to dramatically increase the number of customers that it serves or to establish itself as a well-known brand in the competitive car sharing space. Additionally, the product may be in a market where customers will not have brand loyalty.
The Company’s expenses will significantly increase as they seek to execute their current business model. Although the Company estimates that it has 2 months of runway (assuming no revenue generation), they will be ramping up cash burn to promote revenue growth and fund other Company operations after the raise. Doing so could require significant effort and expense or may not be feasible.
Through our operations, we collect and store certain personal information that our customers provide to purchase products or services, enroll in promotional programs, register on our website, or otherwise communicate and interact with us. We may share information about such persons with vendors that assist with certain aspects of our business. Security could be compromised and confidential customer or business information misappropriated. Loss of customer or business information could disrupt our operations, damage our reputation, and expose us to claims from customers, financial institutions, payment card associations and other persons, any of which could have an adverse effect on our business, financial condition and results of operations. In addition, compliance with tougher privacy and information security laws and standards may result in significant expense due to increased investment in technology and the development of new operational processes.
Not all of the founders or key employees are currently working full time for the Company. As a result, certain of the Company's employees, officers, directors or consultants may not devote all of their time to the business, and may from time to time serve as employees, officers, directors and consultants of other companies. These other companies may have interests in conflict with the Company.
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.
Representatives of SI Securities, LLC are affiliated with SI Advisors, LLC ("SI Advisors") Representatives of SI Securities, LLC are affiliated with SI Advisors, LLC ("SI Advisors"). SI Advisors is an exempt investment advisor that acts as the General Partner of SI Selections Fund I, L.P. ("SI Selections Fund"). SI Selections Fund is an early stage venture capital fund owned by third-party investors. From time to time, SI Selections Fund may invest in offerings made available on the SeedInvest platform, including this offering. Investments made by SI Selections Fund may be counted towards the total funds raised necessary to reach the minimum funding target as disclosed in the applicable offering materials.
Frequently Asked Questions
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.
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.
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.
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 securities, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.
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 Vinty. Once Vinty accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Vinty in exchange for your securities. At that point, you will be a proud owner in Vinty.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or passport
- 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.
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, Vinty has set a minimum investment amount of US $1,000.
Accredited investors investing $20,000 or over do not have investment limits.
You are a partial owner of the company, you do own securities 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:
- The company becomes a fully-reporting registrant with the SEC
- The company has filed at least one annual report, but has no more than 300 shareholders of record
- The company has filed at least three annual reports, and has no more than $10 million in assets
- The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
- 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.
Currently there is no market or liquidity for these securities. Right now Vinty does not plan to list these securities on a national exchange or another secondary market. At some point Vinty 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 Vinty either lists their securities on an exchange, is acquired, or goes bankrupt.
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.
This is Vinty'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 Vinty's Form C. The Form C includes important details about Vinty's fundraise that you should review before investing.
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 securities 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 account's portfolio page by clicking your profile icon in the top right corner.
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 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 account's portfolio page by clicking your profile icon in the top right corner.