the Bike Club, a UK-based platform that offers pay monthly kids bikes that are exchanged as children grow up, is set to close its equity crowdfunding campaign on Crowdcube with more than £550,000 in funding from over 300 investors.
As previously reported, 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 it buys less and share better products between like-minded borrowers, as well as cuts waste and is better for the borrowers.
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 next week.
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