Belgium’s electric bike maker Cowboy gets funding to keep business rolling

Cowboy announced new financial arrangements and operational changes following recent challenges.

Brussels-based Cowboy, an electric bike company, has secured the necessary financial backing to continue operating after months of industry speculation about its future. The announcement was made by Tanguy Goretti, founder and CEO, via a LinkedIn post.

Goretti also mentioned that it has obtained short-term financing to keep operations and production running. Cowboy signed a term sheet with a new partner, Rebirth, which, together with support from current investors and its debt provider, should ensure long-term stability.

Industry and operational challenges

The agreements mark a significant turning point after what Goretti calls “the most challenging period in our history.” The company was hit hard by post-COVID market shifts, ongoing supply chain problems, and a broad industry downturn that has already claimed several major players.

Adding to the strain was the company’s first-ever product recall, triggered by a manufacturing issue affecting a subset of bikes. 

The fault was traced back to an unapproved change made by a supplier, and while it was swiftly addressed, it placed further pressure on operations at a time when delays and communication gaps were already impacting customers.

With new funding in place, the company says it is moving from crisis management toward recovery. 

The first replacement frames have arrived, the initial recall hub is now operational, with more planned in additional cities this summer, and production is expected to gradually return to normal.

Tanguy Goretti says, “We’re not out of the woods yet, but we’re here. Still standing. Still fighting. And more committed than ever. Our full energy is now focused on executing with our new partner and getting back to a normal situation before the end of the year.”

Progress updates are expected in the coming months.

Partnership with Re-Cycles

In February 2025, Cowboy completed the transition of its e-bike assembly operations from Belgium to France, partnering with Re-Cycles, a French manufacturer with over 30 years of experience. 

Production took place in Romilly-sur-Seine. The move aimed to strengthen quality control, reduce delivery times, and place assembly closer to European customers.

Following the change, bikes began shipping across Europe. The company reported plans to reduce delivery times to days as production reached full capacity. Cowboy also expanded its service network to more than 125 locations, deployed mobile technicians in over 40 cities, and introduced live chat support.

Brief about Cowboy

Founded in 2017 by Adrien Roose, Karim Slaoui and Tanguy Goretti, Cowboy designs and produces connected electric bikes for urban riders, with integrated technology for navigation, tracking, and performance monitoring. 

The company offers direct-to-consumer sales and a service network that includes mobile repairs and maintenance support. 

Its bikes are available to customers in Europe and the US, with delivery and servicing in more than 2,500 towns and cities. Cowboy also provides software features through its app, including theft alerts, ride statistics, and route planning.