Bike Club raises £1m in seed financing to scale its subscription bicycle platform
The seed round was led by the founder of Fitness First to support team expansion and technology investments.
Bike Club operates a subscription service for children bicycles, allowing families to rent and exchange bikes as children grow. The company focuses on sustainability and circular economy principles within the cycling market.
Bike Club has raised over £1m in a seed round led by the founder of Fitness First. Co-founded by James Symes and Alexandra Rico-Lloyd, the subscription lending platform provides pay-monthly children's bicycles that can be exchanged as families need replacements.
The fresh capital will be directed towards scaling the service, making further investments into technology, and expanding the team as the business aims to establish the largest private rental network in the UK.
The founders noted the parallels with Fitness First, aiming to bring a similar club model to the bicycle industry with the backing of a distinguished group of investors.
From the founder
"It’s great to have brought in such a distinguished group of investors. In much the same way Fitness First pioneered health clubs, we want to bring the club model to the bike industry."
James Symes
Founder at Bike Club
Use of funds
- 01Grow the team
- 02Continue product development
- 03Scale operations