The Bike Club’s subscription service for children’s bikes and scooters has raised £ 16.75 million in the Series B funding round run by Circularity Capital, through funds to develop national and European expansion.

The bike club plans to move to France and Germany in the next one or two years. It currently has a network of 40,000 bicycles, but with the new capital is planned to increase to 220,000.

The London company is a subscription service for bicycles and scooters, the purpose of which is to relieve the hassle of buying new bicycles and scooters for children when they outgrow them.

“The bike club has a mission to break the family bike, which means you will never have to buy a baby bike again. We have seen the urge across the country when different families use us to take to the streets and enjoy a healthier and more active lifestyle, ”said James Symes, founder of the Bike Club.

Its service allows users to choose from a variety of new or refurbished brands. If the child grows out of his current bike or scooter, it can be changed.

Bike Club offers a recycling scheme that allows you to sell your bike to them, then have it repaired and then rented out.

“The circular economy of the bike club means that you need to produce fewer bikes every year. Each of their bikes saves 336 kg of CO2 compared to their own bike. So far, their fleet has saved 1,174 tonnes of CO2 against property, ”said David Movat, a partner at Circularity Capital.

Founded in 2016 by James Simes and Alexandra Rick-Lloyd, the Bike Club’s total funding to date is £ 13.25 million.

Additional capital came from previous investor Codex Capital.

According to the Bike Club, its circular economy means each of its bikes saves 336kg of CO2 compared to its own bike. In total, its fleet saved 1,174 tons of CO2.

“We work closely with management, including understanding global supply chain disruptions, and today we are a much stronger and very well-capitalized business,” said Jamie Lawson-Brown, co-founder of Codex Capital and a member of the Bike Club board.

Bike Club pedals towards expansion with £16.75m raise

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