Bikmo has raised £3.4m in a Series A extension round led by Puma Private Equity to accelerate European expansion and product innovation.
The Chester-based cycle insurer has secured £3.4m in a round led by Puma Private Equity to scale customer acquisition and European growth.
Bikmo is a specialist cycle and e-mobility insurer protecting riders across the UK and Europe. The B Corp certified company provides coverage for individuals and commercial partners using proprietary API technology.
Bikmo has secured £3.4m in a Series A extension round led by Puma Private Equity, alongside participation from existing backers Hiscox and the Development Bank of Wales. The Chester-based insurer will deploy the capital to scale customer acquisition, accelerate European expansion, and drive product innovation across its technology platform.
Operating in a growing cycle and e-mobility market, the company protects over 75,000 riders in the UK, Ireland, Germany and Austria. The funding follows the development of proprietary API technology designed to deliver embedded insurance solutions through retail and manufacturing partners.
From the founder
"We’re stoked to close this round and onboard Puma Private Equity as we accelerate growth in the UK and Europe, the next big step in our mission to protect the world’s riders. Working with a company aligned with our values combined with their depth of experience in international growth across a wide range of technology-enabled sectors is a perfect match for Bikmo."
David George
CEO at Bikmo
Investor perspective
"We are really excited to be backing Bikmo at this significant stage in their growth journey. They are ideally placed as one of the UK’s largest specialist bike insurers to capitalise on the e-bike movement and the increasing number of people opting to use bikes as a mode of transport. CEO, David George and his team launched the business with a mission to build a service that enables riders to spend more time doing what they love and that is still at the heart of what they are delivering. Having secured notable partnerships and built API technology to maximise conversions they’re on an impressive growth trajectory."
Kelvin Reader
Investment Director, Puma Private Equity
Use of funds
- 01Expand into international markets
- 02Continue product development
