Enthusiasts and Investors Converge to Support Freedom Loving Riders
Motorcycle enthusiasts and investors have a unique opportunity to own a piece of the largest motorcycle sharing marketplace. Riders Share based in Austin Texas just announced the launch of a Regulation CF campaign on Republic’s crowdfunding platform.
Equity crowdfunding is part of the 2012 JOBS Act that allows companies to raise funds through a wider pool of small investors that has fewer restrictions. In the past, investments that went to startups and early stage companies were limited to large institutional investors.
With crowdfunding platforms such as Republic, small investors gain earlier access to companies with high growth potential such as the next Facebook or Airbnb that may yield them great returns. On the other side, entrepreneurs are able to raise funds more economically and timely, as well as having more options when making the decision to give up equity for funding.
Guillermo Cornejo, Chief Executive Officer and co-founder of Riders Share describes his hopes for the Republic crowdfunding campaign and his vision for his startup.
“We are really excited to offer this accessible opportunity to the riders and investors alike,” said Cornego. “We think we can really change the world of motorcycling with our company, making it more accessible, affordable and enjoyable for people to get out and ride.”
Cornejo co-founded the company with CTO Brendon Lamb, a Full Stack Developer, who moved their vision into code. The funds being raised will buildout the company’s digital and physical infrastructure now needed to support its 250,000 registered users. Once users are onboard the proprietary peer-to-peer rental platform, they are matched to local sources that gives them access to the largest variety of motorcycles in the world.
The Riders Share co-founders saw a gap in the marketplace with 30 million licensed riders in the United State far exceeding the 12 million cycles currently on the road. They also tout that they are meeting other important needs by leveraging machine learning. They are able to vet riders, provide an insurance policy for owners and offer roadside assistance.
The co-founders’ vision resonated quickly with cyclists. The business grew 75% or higher for the past two years consecutively and has received 50,000 five-star user reviews. Over 4,000 different motorcycles are already registered from every street legal category all across the country.
Riders are able to pursue their dream of having a superior experience on their rides, while owners gain an extra source of income. Riders Share founders are pleased to be the intermediary for entertainment and fun.
Their marketplace ranks #1 on Google for “motorcycle rental” searches and the company has a proprietary AI vetting system which keeps rental charges lower, giving them higher margins.
The team uses a combination of an online marketplace, machine learning and crowdfunding to create their innovative approach to motorcycle sharing. It is a very good example of the new business models that are emerging as part of the digital transformation wave that is underway.
The crowdfunding campaign on Republic is currently live, but is a limited-time-only investment.
