MBDA Equity Multiplier Multiplies Opportunity for Dollaride
Su Sanni is a social entrepreneur and tech founder hailing from Brooklyn, NY. He’s the CEO of Dollaride, a new mobility company for communities that are underserved by public transit. In past ventures, he's helped more than 2000 nonprofit organizations raise over $50M using WeDidIt, an online fundraising platform.
Dollaride was founded in 2019 and launched its pilot service in 2021. It is a mobility company for communities that are underserved by public transit. They use data intelligence to eliminate transit deserts. In NYC, they’ve accomplished this by dynamically matching commuters with a network of 500+ dollar vans, and already serve 120K daily riders.
They provide the digital infrastructure to gather accurate and timely transportation data by closing the gap between informal transit riders and drivers in areas with limited transportation supply. By digitizing informal transit networks, Dollaride helps riders access affordable transportation, enables drivers to grow their ridership, and equips businesses to offer commuter options that are cheaper than existing alternatives all while reducing carbon emissions and bolstering clean mobility options.
Su was initially trying to fundraise for his $3 million seed round and get connected to MBE Equity Multiplier as a source of connections to VC’s. He came in with the mindset that we would only provide connections through our network not knowing all of the services that were readily available for our clients. Su utilized our business advisory services that overall prepared him to be investment ready.
During the time Su received technical assistance through the MBE Equity Multiplier, he was able to obtain Dollaride’s first term sheet from a prominent VC who intends to lead Dollaride’s first financing round. Su was introduced to the MBE Equity Multiplier with the focus of obtaining access to investment capital, but the MBE Equity Multiplier provided much more of a service that placed Dollaride in a comprehensive position for a great investment opportunity. This was done through technical assistance, analysis in the development of his pitch-deck, data room, and a thorough business valuation. Su continues to work with the MBE Equity Multiplier to fulfill its $3 million seed round by utilizing our business advisory services and investor network.
Su provided the following testimonial regarding his work with the MBE Equity Multiplier team:
“ Working with the MBE Equity Multiplier has been an excellent experience so far, exceeding my expectations. The Enterprise Center team helped me get prepared for pitching and engaging VC investors by providing constructive feedback on my pitch deck and conducting an analysis of my financial model, projects and valuation. This work gave me additional confidence going into VC meetings and contributed to my Seed round fundraising efforts. I soon received a term sheet from a lead investor and subsequently got intro’d to other VCs who expressed interest in potentially joining my funding round.
I highly recommend the Enterprise Center and MBDA to diverse founders who are seeking capital to scale their businesses.”
To date, Dollaride has $1.5 million already committed to his $3 million seed round. Since launching Dollaride’s pilot service last year, they have reached many milestones such as: served 12K+ unique riders, crossed $1M+ revenue, created CTAP - a $40M public-private partnership with New York State to electrify 200+ NYC dollar vans within 3 years and became a finalist for the NY Clean Transportation Prize - a $10M grant contribution to the proposed CTAP partnership.