Pedal Me, a UK-based e-cargo on-demand bike service, has successfully secured more than £400,000 through its equity crowdfunding campaign on Crowdcube. The funding round, which recently made its debut, originally sought to raise £150,000 and has so far attracted 630 Crowdcube investors.
Founded in 2017, Pedal Me describes itself as a pedal-powered transport service. The company stated its app offers convenient and reliable on-demand access to our passenger and cargo services, currently operating in London.
“We are not just any logistics company. We are Pedal Me, offering the every-mile, e-cargo bike solution in cities, and we can help to solve the issue of excess polluting, congesting motor journeys.”
The company also reported that since its launch, Pedal Me has grown to 50 staff and 52 bikes.
“These riders, combined with our bespoke bikes, trailers, proprietary tech, and the preferential access that newly installed infrastructure in the city provides, allow us to deliver larger cargo AND passengers door to door, at speed. All this comes with a tiny fraction of the emissions.”
Funds from the Crowdcube round will be used to continue the growth and development of the Pedal Me platform. The company is now offering 7.62% at the £5 million pre-money valuation through the campaign, which is set to close at the end of May.
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