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Bicycle Club receives £5.7 million from Codex Capital

Bike Club, the largest private bicycle rental company in the UK, was established in 2016 and has received £5.7 million in funding from Codex Capital. The money will help expand its fleet of bicycles and will be provided to families through monthly subscriptions.
Jamie Lawson-Brown, the co-founder of Codex Capital, commented: “We are very happy to work with Bike Club to provide families with a more sustainable and fundamentally better way for children to ride bicycles. Our investment and management team The combination of entrepreneurial spirit to ensure that we can rapidly increase our fleet and provide this unique subscription service to more families in this period of rapid growth.”
A fleet of 16,000 bicycles is currently in circulation. This investment will allow the company to grow to 150,000 bicycles in the next three years, of which 12,000 will arrive before Christmas.
The bike club’s subscription service costs between £5 and £15 per month and is designed to help families looking for flexible ways to become healthier and smarter families. The bike clubs are available in various sizes without compromising quality, ensuring that your children can explore the outdoors on their perfect bikes. In addition, when the bicycle can be replaced at any time when ordering, the bicycle can be collected at your door, refurbished in the company’s 25,000 square foot workshop, and then provided to the next owner. This model can illuminate the waste, while at the same time in line with the company’s concept of providing the perfect bicycle for all families.
James Symes, CEO of Bicycle Club, said: “Our business model has always been focused on helping families have bicycles that grow with them, effectively solving their pain of having to buy new children’s bicycles every 12-18 months. .Big. The bicycle club is a solution to a wide range of problems for parents and the entire industry.”
He added: “More than 80% of parents teach their children to ride a bicycle. People are increasingly realizing that if you put your children in the right size, a better quality bicycle will make them more likely to ride a bicycle, and more It is possible to have a happy time.
Mike Balfour, Founder of Fitness First and Chairman of the Bicycle Club, said: “In the way Fitness First has fundamentally changed the affordable fitness club industry, I can see the same growth opportunities for Bike Club and family bikes. We are at the forefront of the generations to pass on.”
700,000 children’s bicycles are sold in the UK every year, and 6 million families claim that bicycles are essential to their children.
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Post time: Sep-16-2020

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