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Problem
We are transitioning at scale to climate-neutral EVs
US EV salesBy 2025, an EV will be sold every 21 seconds.
By 2028, EV sales will exceed 3M units a year — or $90B+ a year of EVs.
The dealers, the OEMs and Wall Street are all trying to solve EV-market problems.
There are ESG, clean energy and transition bonds, state, federal tax credits and grants, and almost a trillion dollars of OEM capital set for deployment.
All for one driving force: leading the transition to EVs and a climate-neutral transportation future in an equitable manner.
Solution
The all-EV
subscription car company
We're pioneering EV adoption, and
catalyzing the carbon-neutral transition.
L
aunched in 2017, Borrow is the world’s first all-electric subscription car company.
Borrow offers the most equitable and frictionless path to EV adoption currently available with simple 3 and 6-month terms.
Our service encompasses the entire lifecycle of EV fleet management services, from acquiring the asset, titling, registration and disposition, to telematic/data collection of the vehicle. Our all-in-one subscriptions additionally cover insurance, maintenance, education, roadside service, and charging. Borrow handles it all.
Product
Borrow is the
‘everything EV’ platform
A DTC brand with simple 3 and 6-month subscription terms and none of the headachesA seamless digital onboarding process
Providing EVs for everyone in an equitable manner, while driving a cleaner, climate-neutral future
Traction
53% YOY increase in revenue from 2019 to 2021
From 2017 to 2021, revenue grew at CAGR 110.5%.
Fleet size has doubled every 18 months.
Growing deal flow from OEMs and transportation partners.
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Anticipating 10x growth and $100M+ in vehicle financing*
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Customers
Our customers integrate Borrow into their lives
2022 Utilization rate: 100%
Avg Term: 5 months
Customers Per Car: 1.7
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Data & learnings
What we can track
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User demographics- Trip info
- Vehicle usage
- Charging
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Target customers
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Meet “Stella”
Meet “Andrew”
Meet “Daniel”
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What our customers are saying
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User comparisons:
weekly battery usage vs charge
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Business model
Borrow 1.0 metrics
- Range of car values purchased: $4,800 to $45,400
- Revenue per car (avg): $9,100
- Time in fleet (avg): 24 months
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Borrow 1.0 infleeting
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Tesla Model S: $45,400.00
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Unit economics
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Formula: (Gross profits minus costs) divided by gross profits
Borrow 1.0 unit econ: 72%
Range of depreciation = 1.5% per month until 2022 (no depreciation)
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Customer acquisition
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- CAC High: $479, Low: $6
- Average: $167
- 2022 Average: $122
Vision and strategy
Next:
Raising $3M to:
Repeat and extend Borrow 1.0 success
775 cars in 2023 — growth to 8,000 cars in 2026
1,395 customers
10 markets
New makes and models
Path to 8,000 cars:
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Borrow 2.0 customer growth
and market expansion
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- Corporate expansion in Southern California, Northern California
- Franchisee expansion in 7 additional markets
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Franchise at Borrow
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Borrow brand and market growth for franchisees
Tap into our large and growing customer base. Accelerate your customer acquisition process through our robust marketing efforts.
- Grow 4x in 4 months
- 2000 person waitlist
- 200 paid reservations
- 125% WOW growth
- 17 new subscribers per month (organic)
Funding
Investors include
Mucker Capital and Urban US
Founders
Founders:
Rodrigo De Guzman &
Jon Alain Guzik
Rodrigo De Guzman (3x exits)
CEO
- Ops/F&I
- Marketing inventory
- Lifecycle
- G&A, finance, legal
Jon Alain Guzik (2x Exits)
CTO
- 15 yrs experience in the auto industry
- Vet technology
- Data science
- ESG/sustainability
