Cowboy, the design and software driven micro-mobility company, today announces that it will launch on crowdfunding platform Crowdcube from 12th December, as it seeks to raise seven figures to fuel its ambitions on leading the micro-mobility revolution.
The round has already got off to a stellar start with Cowboy having secured £1million investment, ahead of the public round, led by Index Ventures and Hardware Club. From the 12th December members of the public and loyal Cowboy fans will also be able to invest in one of Europe’s most exciting startups and go from stakeholders to shareholders as the company plans to triple its sales in 2020.
Cowboy who recently launched a second version of its revolutionary electric bike this year, will initially open up the raise to its 47,000 community of registered users, before then inviting the public the opportunity to purchase shares in one of the most talked about micro-mobility companies this year.
Cowboy decided to open up its latest fundraising round to the public ahead of its next private round as it wanted its community to have a formal role within the company as it sets its sights on transforming the urban commute. For the first time ever, Cowboy will give the public the opportunity to invest for as little as €20 as it aims to lead the micromobility revolution.
Addresses issues in urban commute
With traffic congestion plaguing urban areas across Europe and targets to reduce emissions in place, electric bikes are proving to be the fastest means of transportation, whilst also creating a low carbon footprint. Cowboy’s vision is to elevate the daily commute to the next level in terms of speed, comfort and freedom of movement around towns and cities. Cowboy enhances the riding experience by unifying intelligent technology, delightful design and meticulous customer service.
Global expansion plans
Cowboy was founded in Brussels in 2017 and to date has raised €13.2 million from international investors (including Index Ventures, Tiger Global and Hardware Club) in the Series A round in autumn 2018 and quickly sold out its entire stock of bikes in Belgium last year. This year, the company expanded into Germany, France, Netherlands and Austria, UK, Spain and Italy.
Cowboy’s to date achievements include selling over 5,000 bikes in 2019 alone, 5 x year on year growth, 3,482,713 km ridden and 435,375 kgs saved in carbon emissions as well outstanding reviews and awards and are creating a community of loyal fans.
Adrien Roose, Cowboy CEO, said: “The growth of Cowboy over the past two years has demonstrated there is a real appetite amongst our customers to not only have a connected e-bike but to be a part of our micromobilty revolution as we look to reduce the amount of cars on the streets and decrease commute times. The last two years has shown us the passion that our community has and how they want to be a part of our future. Enabling them to become shareholders will be very powerful for us as we set our sights on transforming urban mobility.”
The funds raised through this current round will aid Cowboy’s ambitions to transform urban movement across Europe as its aims to get more commuters travelling by electric bikes. In London the speed of traffic hasn’t improved in over 100 years when people travelled by horse and cart – Cowboy believes that commuters should have a choice to change this by travelling on ebike. This not only improves journey times but also reduces cars and emissions.
Luke Lang, co-founder and CMO, Crowdcube said: “Cowboy’s ambitious mission paints an inspiring future of smart cycling, eco travel and stunning design. It also signals Crowdcube’s growth as later-stage entrepreneurs choose to increasingly raise finance with us by using the tools available to fire up their communities to champion a vision.”
Martin Mignot, Partner, Index Ventures said: “In less than two years Cowboy has grown from a little startup launching its first bike to a respected e-bike brand. I am passionate about Cowboy’s continued success as I truly believe that e-bikes will play a key role in helping transform some of the major issues cities face when it comes to congestion, noise and pollution.”
Cowboy is working with the world’s first and largest equity crowdfunding platform, Crowdcube, which boasts a remarkable track record for successful crowdfunding for some of the brightest businesses such as Monzo, Nutmeg, Freetrade, Revolut, GoHenry, Chip, Coconut and MoneyDashboard.
Main image picture credits: Cowboy
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