London bike business begins first public investment round

London enterprise havebike, which specialises in a collection and repair service for cyclists, recently launched its initial round of investment from the public. The move from the firm coincides with its initiative for UK-wide expansion.

The business is now inviting members of the general public, along with the UK’s cycling community, to join its endeavour, seeking investment of £500,000 or more to top up the funds it has already raised.

After a pre-investment valuation set at £6.5m, the London company is now getting ready to cover some distance by expanding its nationwide footprint to major UK cities while advancing its business across multiple areas, including mobile services. From its budgeted £1.8m worth of revenue for this financial year, the firm believes this first round of investment can potentially help it grow its revenues to around £10m within the next 18 months.

CEO for havebike, Nick Brown, commented

“We are an ambitious company with plans to be cycling’s equivalent of Kwik-Fit, and I know that our technology, industry expertise and scalable model will allow us to be successful.”

Cycling is now being viewed as a vital element to assist attempts in combating climate change through more sustainable transport options. Investors seeking sustainable stocks to invest in can rely on experts in portfolio management in Shropshire, Chester, and other parts of the UK for advice. Wealth management firms can construct bespoke portfolios that only include sustainable investments and adhere to a client’s personal ethics.

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