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117%
Raised
£412,850
Investors
313
Target
£350,000
Equity
2.10%
Pre-money valuation
£19,250,000

eFOLDi is working to disrupt the mobility market with a true lightweight, versatile and roadworthy scooter. Patented and awarded WINNER of BRITISH INVENTION, eFOLDi has achieved £2.27m revenue, £413K+ Profit in FY19 and helped thousands of less-abled enjoy their travel freedom.

  • Thousands of eFOLDi units sold since 2018 Crowdcube funding
  • £2.27m revenue, £413k net profit in FY2019
  • Personal mobility market to exceed $14bn by 2024
  • Winner of British Invention & international patents granted

Idea

eFOLDi is a lightweight, compact & versatile mobility scooter powered by true innovations. Weighing only 17kg and folded to a suitcase size, the eFOLDi is fully road legal and airline compliant.

Since the successful Crowdcube raise in 2018, eFOLDi has helped thousands of people regain their travel freedom. We believe our newest model will be an even bigger game changer –aiming to offer a further 33% weight reduction with magnesium alloy.

Personal mobility market is expected to exceed more than US$14.2bn by 2024 at a CAGR of 7%. However, with 1 in 5 users having experienced tipping over and 53% of the users under 65 years old in 2014, we believe that current mobility products are too dangerous and old fashioned. Filled with patented technologies and creative ideas, eFOLDi is on a mission to bring true freedom and fun to people with reduced mobility!

Milestones achieved since 2018 Crowdcube campaign:

- Profit of £413k in the very 1st year after funding

- Revenue increased 109 times from £20k (FY2018) to £2.27m (FY2019)

- Invented new eFOLDi Lite with magnesium alloy

- Effective TV advertising campaign kickstarted sales

We are raising with Crowdcube again because we love giving ordinary people the chance to be part of the exciting eFOLDi journey! Funds will be used for stock purchase, marketing, further R&D and US entry.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

eFOLDi has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.