WorkCar
Driving the Sharing Economy
San Francisco, CA
$1,000
RAISED
$100,000
TARGET
$100
MINIMUM INVESTMENT
1% funded

Invest in WorkCar


Highlight

WorkCar is an automotive finance and technology company that provides on-demand TNC drivers with qualifying work vehicles.

Vehicle owners list their cars on our platform setting their preferred daily rate and availability for rental.

Customers apply online for a vehicle that can be used to earn money driving for mobile platforms which provide services such as ride-sharing and deliveries.

The company was founded by Brian Santos and Nina Birkart in July 2015 and is headquartered in San Francisco, CA. WorkCar's management team is led by Chief Executive Officer Brian Santos, along with Chief Operations Officer Nina Birkart.


Why WorkCar?

WorkCar offers qualifying vehicles to people who need a car or truck for work. WorkCar members are able to share their vehicles with other members on our network and earn money while they sleep!


Our Mission

Our mission is to provide efficient, safe, and reliable vehicles to on-demand drivers.


Team

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Brian Santos

CEO

Brian began his entrepreneurial journey in early 2011 founding UpTweet, Twitter's first Bitcoin social news engine. Brian achieved early success with UpTweet appearing in Entrepreneur, L'Atelier, Bitcoin Magazine, and several other notable media outlets. Brian went on to found the Bitcoin Business Alliance, the industry’s largest grass roots organization of thought leaders and C-level professionals. Today, Brian applies his experience in the financial technology sector and the automotive sales industry as the Chief Executive Officer of WorkCar, a financial and automotive technology company based in San Francisco, CA.

Nina

Nina Birkart

COO

With over a decade of experience in marketing and sales, Nina comes from a family of generational entrepreneurs who founded Birkart Globistics a 200+ year old global shipping and logistics company. She has experience in managing and maximizing ROI for real estate investments on an international basis. She also has advised several startups including Ocean Pad Project, a sustainable off shore sea-steading solution. She specializes in creating a healthy line of communication between WorkCar’s members and its support team.


Terms of Offering

Offering Terms

Security

CROWD SAFE (Simple Agreement for Future Equity)

Minimum Amount Per Investor

$100

Discount and Valuation Cap

20% Discount, $6 Million Valuation Cap

Please review the Form C filed with the SEC where you can view other important documents including financial statements and other disclosures.


Financial Risks

The SAFE (Simple Agreement for Future Equity) will not be freely tradable until one year from the initial purchase date. Although the SAFE (Simple Agreement for Future Equity) may be tradeable under federal securities law, state securities regulations may apply and each Purchaser should consult with his or her attorney.

You should be aware of the long-term nature of this investment. There is not now and likely will not be a public market for the SAFE (Simple Agreement for Future Equity). Because the SAFE (Simple Agreement for Future Equity) have not been registered under the Securities Act or under the securities laws of any state or non-United States jurisdiction, the SAFE (Simple Agreement for Future Equity) have transfer restrictions and cannot be resold in the United States except pursuant to Rule 501 of Regulation CF. It is not currently contemplated that registration under the Securities Act or other securities laws will be effected. Limitations on the transfer of the SAFE (Simple Agreement for Future Equity) may also adversely affect the price that you might be able to obtain for the SAFE (Simple Agreement for Future Equity) in a private sale. Purchasers should be aware of the long-term nature of their investment in the Company. Each Purchaser in this Offering will be required to represent that it is purchasing the Securities for its own account, for investment purposes and not with a view to resale or distribution thereof.

Neither the Offering nor the Securities have been registered under federal or state securities laws, leading to an absence of certain regulation applicable to the Company.

No governmental agency has reviewed or passed upon this Offering, the Company or any Securities of the Company. The Company also has relied on exemptions from securities registration requirements under applicable state securities laws. Investors in the Company, therefore, will not receive any of the benefits that such registration would otherwise provide. Prospective investors must therefore assess the adequacy of disclosure and the fairness of the terms of this offering on their own or in conjunction with their personal advisors.

No Guarantee of Return on Investment

There is no assurance that a Purchaser will realize a return on its investment or that it will not lose its entire investment. For this reason, each Purchaser should read the Form C and all Exhibits carefully and should consult with its own attorney and business advisor prior to making any investment decision.

A majority of the Company is owned by a small number of owners.

Prior to the offering the Company’s current owners of 20% or more beneficially own up to 100% of the Company. Subject to any fiduciary duties owed to our other owners or investors under California law, these owners may be able to exercise significant influence over matters requiring owner approval, including the election of directors or managers and approval of significant Company transactions, and will have significant control over the Company’s management and policies. Some of these persons may have interests that are different from yours. For example, these owners may support proposals and actions with which you may disagree. The concentration of ownership could delay or prevent a change in control of the Company or otherwise discourage a potential acquirer from attempting to obtain control of the Company, which in turn could reduce the price potential investors are willing to pay for the Company. In addition, these owners could use their voting influence to maintain the Company’s existing management, delay or prevent changes in control of the Company, or support or reject other management and board proposals that are subject to owner approval.

The Company has the right to extend the Offering deadline.

The Company may extend the Offering deadline beyond what is currently stated herein. This means that your investment may continue to be held in escrow while the Company attempts to raise the Minimum Amount even after the Offering deadline stated herein is reached. Your investment will not be accruing interest during this time and will simply be held until such time as the new Offering deadline is reached without the Company receiving the Minimum Amount, at which time it will be returned to you without interest or deduction, or the Company receives the Minimum Amount, at which time it will be released to the Company to be used as set forth herein. Upon or shortly after release of such funds to the Company, the Securities will be issued and distributed to you.

Your ownership of equity will be subject to dilution.

Purchasers do not have preemptive rights. If the Company conducts subsequent offerings of or securities convertible into, issues shares pursuant to a compensation or distribution reinvestment plan or otherwise issues additional shares, investors who purchase shares in this offering who do not participate in those other stock issuances will experience dilution in their percentage ownership of the Company’s outstanding shares. Furthermore, shareholders may experience a dilution in the value of their shares depending on the terms and pricing of any future share issuances (including the shares being sold in this offering) and the value of the Company’s assets at the time of issuance.

The Securities will be equity interests in the Company and will not constitute indebtedness.

The Securities will rank junior to all existing and future indebtedness and other non-equity claims on the Company with respect to assets available to satisfy claims on the Company, including in a liquidation of the Company. Additionally, unlike indebtedness, for which principal and interest would customarily be payable on specified due dates, there will be no specified payments of dividends with respect to the Securities and dividends are payable only if, when and as authorized and declared by the Company and depend on, among other matters, the Company’s historical and projected results of operations, liquidity, cash flows, capital levels, financial condition, debt service requirements and other cash needs, financing covenants, applicable state law, federal and state regulatory prohibitions and other restrictions and any other factors the Company’s board of directors deems relevant at the time. In addition, the terms of the Securities will not limit the amount of debt or other obligations the Company may incur in the future. Accordingly, the Company may incur substantial amounts of additional debt and other obligations that will rank senior to the Securities.

There can be no assurance that we will ever provide liquidity to Purchasers through either a sale of the Company or a registration of the Securities.

There can be no assurance that any form of merger, combination, or sale of the Company will take place, or that any merger, combination, or sale would provide liquidity for Purchasers. Furthermore, we may be unable to register the Securities for resale by Purchasers for legal, commercial, regulatory, market-related or other reasons. In the event that we are unable to effect a registration, Purchasers could be unable to sell their Securities unless an exemption from registration is available. 

The Company does not anticipate paying any cash dividends for the foreseeable future.

The Company currently intends to retain future earnings, if any, for the foreseeable future, to repay indebtedness and to support its business. The Company does not intend in the foreseeable future to pay any dividends to holders of its shares of common stock.  In addition to the risks listed above, businesses are often subject to risks not foreseen or fully appreciated by the management. It is not possible to foresee all risks that may affect us.

Moreover, the Company cannot predict whether the Company will successfully effectuate the Company’s current business plan. Each prospective Purchaser is encouraged to carefully analyze the risks and merits of an investment in the Securities and should take into consideration when making such analysis, among other, the Risk Factors discussed above.

THE SECURITIES OFFERED INVOLVE A HIGH DEGREE OF RISK AND MAY RESULT IN THE LOSS OF YOUR ENTIRE INVESTMENT. ANY PERSON CONSIDERING THE PURCHASE OF THESE SECURITIES SHOULD BE AWARE OF THESE AND OTHER FACTORS SET FORTH IN THIS FORM C AND SHOULD CONSULT WITH HIS OR HER LEGAL, TAX AND FINANCIAL ADVISORS PRIOR TO MAKING AN INVESTMENT IN THE SECURITIES. THE SECURITIES SHOULD ONLY BE PURCHASED BY PERSONS WHO CAN AFFORD TO LOSE ALL OF THEIR INVESTMENT.


Documents

Form C

Pdf icon 6c36baab2d55be92a9cb577a899472d1f0a3200988424a079c56bbb05941cb60 formcworkcar.pdf

Business Plan

Pdf icon 6c36baab2d55be92a9cb577a899472d1f0a3200988424a079c56bbb05941cb60 exhibitdbusinessplanwork.pdf

Executive Summary

Pdf icon 6c36baab2d55be92a9cb577a899472d1f0a3200988424a079c56bbb05941cb60 exhibitbexecsummary.pdf

Financial Projections

Pdf icon 6c36baab2d55be92a9cb577a899472d1f0a3200988424a079c56bbb05941cb60 exhibitabugetprojections.pdf


Comments

David A. Dec- 6-2016

Does the fact that Uber posted a loss of at least $1 billion in the first half of 2016 concern you at all?

We cater to all people who need a vehicle for work, not just Uber!

David K. Mar-12-2017

Hi, I'm unclear as to what exactly this business is? How does it differ than Getaround? Thanks!

Hello David! We are a peer-to-peer car rental company that services the entire sharing economy (Uber, Lyft, Postmates, ETC..). WorkCar is in the process of building a platform which enables car owners to share their vehicles with other qualified drivers. On-demand insurance is included with every rental. GetAround provides rentals for leisure. WorkCar's focus is on servicing people who will rent our cars for work. Thanks for your question. Sincerely, Brian Santos

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