Mate.Bike, a Denmark-based e-bike company, has successfully secured more than €1.8 million through its equity crowdfunding campaign on Seedrs. The funding round was launched earlier this month, originally seeking €1 million. It has attracted over 730 Seedrs investors. Mate.Bike is now offering 1.75% in equity at a €56,094,000 pre-money valuation
As previously reported, Mate.Bike was founded by siblings Christian Adel Michael and Julie Kronstrøm Carton who wanted to disrupt the unhandy, granny, and expensive e-bike market by making bikes cool, flexible, and affordable.
“In the summer of 2016, we launched the original MATE on Indiegogo that kickstarted a global biking revolution and successfully generated $8m. In July 2018, we launched our second product – the MATE X with a more amplified attitude. It got pre-orders worth of $18m and became the world’s second-largest crowdfunding campaign in history.”
Mate.Bike also revealed it expects to continue this momentum which is in the “DNA” of its business to reinvent and rethink what bikes and personal mobility should be able to do. Besides strong sales on our webshop and an increasing number of B2B partners, we launched two further successful campaigns in 2020.
Funds from the Seedrs campaign will be used for the following:
- Localization of Key Markets: Aiming to capture significant market share through local branches in the fastest-growing markets including the U.S., Germany, France, Netherlands, and many more.
- After-Sales: Strengthen the after-sales machinery with state-of-the-art technology and by expanding Mate.Bike’s internal customer service and technical support team as well as forging new partnerships all over the world.
- Research and Development: Development of unique concepts to create a continuous product pipeline that will continue to “amaze” as well as a new app for all new features connected to the MATE.
- Supply Chain: Establish a world-class supply chain with production in EU, Mexico, China, and Brazil to provide world-wide availability at the best quality and prices possible.
- Top Talent Acquisition: Expand with a team of tier-1 specialists who can help accelerate and strengthen Mate.Bike’s business operations as we climb to the top.
- Future Forward IT Architecture: Develop a scalable IT system, including a new immersive webshop and ERP system to take the company to the enterprise level.
The funding round is set to close next week.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!