A forward looking announcement from Bikmo, as fresh capital allows expansion plans in 2025;
Bikmo, the specialist cycle insurer operating with a remote-rst business model, is accelerating its developments with an additional £4.75M in its growth funding round, building on the £3.4M investment led by Puma Growth Partners (formerly Puma Private Equity) in October 2023. This latest round of funding will be used to drive growth in Europe across direct sales, partners, leasing and commercial channels, while continuing to strengthen our longstanding and trusted partner network. With e-bikes and bike leasing fueling European market expansion, growth is projected to reach a compound annual growth rate (CAGR) of 8.6% by 2030.
Bikmo announces the appointment of Steven Mendel, former CEO and co-founder of ManyPets, as Chair (subject to FCA approval). Steven’s experience in scaling ntech companies will help Bikmo improve its operations and secure new strategic partnerships.
Earlier this year, Ben Thompson, ex-Director of Global Business Development at Komoot, was appointed Chief Growth Ocer. Ben’s experience of growth strategies in the cycling industry will drive Bikmo’s expansion into new markets. Gemma Germains, formerly Canyon’s Global Head of Digital Experience Design, joins as Chief Experience Officer. Her expertise in digital transformation will play a crucial role in optimising Bikmo’s user experience across all touchpoints.
Bikmo continues to strengthen its position in the cycling ecosystem with several new key partnerships. The company has recently announced major collaborations with Cycling UK, the Association of Cycle Traders (ACT) and global cycling brand Trek. These partnerships will help to
further promote Bikmo’s insurance products and support the company’s mission.
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