the Bike Club, a UK-based platform that offers pay monthly kids bikes that are exchanged as children grow up, has successfully secured its initial £500,000 funding target through its Crowdcube funding round. Founded in 2016, the Bike Club offers subscriptions that let children always have the right-sized bike.
“Children grow out of everything. It’s a perpetual pain for all families. But we want the best for our children. So when it comes to putting our children on a bike we think that too many families compromise, we buy too big, we buy too cheap, we throw it away and worst of all our family has a negative experience of cycling. That is where the Bike Club comes in. We offer subscription kids bikes which you exchange as your children grow. It’s flexible, affordable, more sustainable and your children can get some of the best bikes.”
the Bike Club further reported it wants to bring the circular economy to lending, where we buy less and share better products between like-minded borrowers, as well as cuts waste and is better for the borrowers.
“Our members can choose whether to go for a new bike or a pre-loved bike. Demand for both is strong and only 1% of our bikes are ever waiting for their next home. With 82% of families in the UK intending to teach their children to ride. We want to be their first choice when they start cycling by creating a hassle-free club which can get you riding high quality bikes from 18 months to parenthood. We are a club and we owe our success to our 25,000 members. We are facing increasing demand for membership and you can join us in our future growth.”
Funds from the Crowdcube round will be used to continue the growth and expansion of the Bike Club platform. Through the initiative, the Bike Club is offering 5.88% in equity at an £8 million pre-money valuation. The campaign is set to close later this month.
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