May 19, 2022, LONDAN: Racing to disrupt access and sustainability in the cycling industry, children’s bike subscription service, Bicycle Clubprepares for national and European expansion after closure £ 16.75 million in new investments.

Already the largest bicycle subscription scheme in the UK, Bike Club, chaired by Mike Balfour OBE – founder of Fitness First – has now received this cash injection as part of the Series B funding round. Round capitala private equity investment company that challenges the take-and-take-away approach to production and consumption by encouraging waste disposal with an existing investor Codex Capital.
Raising £ 13.25 million to date, the bike subscription success story, which solves the pain of having to buy children new, quality bikes every 12-18 months as they grow, has ambitions to travel to Germany and France over the next 12- 24 months.
Founded in 2016 James Simes and Alexandra Rick-Lloyd, Bicycle Club is revolutionizing the bicycle industry by offering families the opportunity to sign up for new or refurbished bikes and scooters online and then share them as their child grows.
Growing the Lime, Uber and Santander Cycles fleets, the easy-to-manage monthly subscription program – priced from £ 4.49 to £ 15.99 per month – now has a network of 40,000 quality bikes and, with new investments, puts it on track. . rise to 220,000 over the next three years. It is now planned that the number of subscribers will more than double to 80,000 next year.

Bicycle Club Founder and father of three James, formerly a special adviser to the KPMG chairman, said: “The pandemic along with the growing trend of health and well-being has caused a significant increase in family cycling, and demand remains the highest. level in a decade. 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 cravings across the country when different families use us to take to the streets and enjoy a healthier and more active lifestyle.
Allowing your family to ride a bike is a big job and often quite wasteful. With our unique subscriptions we relieve the pain of getting a bike of the right quality and make a gift for your child the best gift. Kids grow up fast and at different times, it makes no sense to spend more than £ 300 on a bike, joining the Bike Club is the solution.
We focus on the family bike and market for younger children, but there is also the opportunity to help parents and other adults ride a bike. A subscription makes a lot of sense if you really consider the hassles of owning.

The world is moving towards monthly payments, subscriptions and fractional ownership. We see that many household items are switching to this model, most cars are now bought with some monthly payment, you pay mortgages and rent monthly, you have a TV subscription, it makes sense that you will pay for baby bikes monthly, and just don’t own them in the long run, given how often they need to be changed to a frame of the next size.
Our research shows us that if you put children on a quality bike of the right size, they are more likely to take and continue to ride a bike throughout their formation. The Bike Club was created to make the process of upgrading bikes easier and hassle-free for parents, and to give children the opportunity to enjoy all the benefits of cycling all year round.
Children are growing fast, making this year’s bike, the next – a headache. Not to mention the associated costs and the impact on the planet due to waste. To make sure they enjoy the benefits of riding the perfect size, parents will need to buy eight different bikes before their child turns 12 years old.
Cycling is one of the best ways for children to become active, build confidence and develop vital skills that will benefit them throughout life. However, bicycles can be an expensive burden for both the family and the environment, and producing just one bicycle results in 96 CO2 * (kg) emissions in greenhouse gases.
And with around 12.5 million * unused bicycles in the UK alone, there are millions of barns and garages around the world that have become obsolete cemeteries for overgrown bicycles.
Whether you’re worried about sustainability and you like the idea of ​​a subscription, or you don’t want to get the initial cost of a quality bike, but really want your child to ride a light, well-designed bike, it will be fun and easy to ride; or you just don’t have a place to store bikes for younger siblings, the Bike Club subscription model offers families a more sustainable and affordable way to get kids to ride a bike. ”

Approximately 900,000 * children’s bicycles are sold annually in the UK with a capacity of € 4.3 billion in Europe. The on-the-go bike subscription service plans to generate £ 5.8 million in revenue this year and grow to £ 11 million next year with the company’s current valuation of £ 45 / $ 57 million / € 53 million. The fastest growing category of bike club is the first pedal (ages 3-6) with a growth of 76% in 2021 against 2020.
Customers can choose from a number of well-known, quality bike brands including Frog, Forme, Strider, Woom, Puky, Squish and Isla.

David Movat, a partner at Circularity Capital, a specialized company that invests in businesses in the circular economy, said:
“As society faces climate change, we need to work together to consume better, which means we need to rent the best things and update them. This is exactly the opportunity provided by the Bike Club to tens of thousands of families across the UK.
The circular economy of the Bike Club means you need to produce fewer bikes each year. Each of their bikes saves 336 kg of CO2 compared to their own bike. So far, their fleet has saved 1,174 tons of CO2 against property. “

Jamie Lawson-Brown, co-founder of Codex Capital and a member of the Bike Club board, said:
“Codex Capital and its co-investors, including Brett Palos Investments, first invested in the Bike Club in the summer of 2020, a difficult time for all businesses, which was the height of the first C-19 closure.
We work closely with management, including navigation to disrupt the global supply chain, and today we are a much stronger and very well-capitalized business. The simple and convenient Bike Club model offers customers the flexibility to make the right choices for their children and their wallets, and the business is ideally located given the growing attention of consumers to the environment combined with financial hurdles such as tight budgets, rising energy prices and inflation.
We look forward to working closely with Circularity Capital and Management to build the business during its next phase of exponential growth. ”

-Ends-

About Bike ClubBike Club is the UK’s largest bicycle subscription service, offering premium children’s bikes for children aged 0 to 14.
Founded in 2016 by James Simes and Alexandra Rico-Lloyd, Bike Club is destroying the children’s bike market with its sustainable, flexible and user-friendly service. After joining the Bike Club bikes and scooters are delivered directly to customers ’homes and can be exchanged at any time as their child grows.
In November 2021, the Bike Club teamed up with the John Lewis Partnership to make the first offer to subscribe to a children’s bike.
Bike Club advises Hooligan Loki (Investment) and John Finnemore and Michael Cattel of CMS (Legal)

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The Bike Club secures £16.75 million Series B investment led by Circularity Capital

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