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Fettle is reinventing bike repair with the promise of faff-free servicing. Using smart tech, the workshop network meets modern service expectations. At just under 2 years old and with 5 workshops in London alone servicing thousands of bikes, fettle is ready for rapid national expansion.

  • Fast growing network of repair-only bike workshops, bookable via app
  • 520% YoY growth in revenue reaching £202k in Q2 2021 (EBITDA -165k)
  • Loved by customers & landlords, with over 550 5* reviews on Google
  • Experienced cross sector management, prestigious investors & mechanics

Idea

Launched 21 months ago by female founder Jeyda & chair Oren, fettle’s mission is to take the hassle out of bike repair for all rider types. Most things are easily done on phones, but for bike servicing, we found that riders face manual bookings, long wait lists, intimidating jargon, bill shock & inconvenient locations.

Fettle was born to change this. Riders book online or via the app, approve the quote before any work starts & get service reminders based on Strava mileage. Simple & reassuring. A seamless home pick-up & delivery means geography is no barrier (within our service area). Workshops can have a lego-like setup to quickly scale nationally.

We believe the ~£1bn bike repair industry has huge tailwinds behind it. Demand is growing while service supply is shrinking. Cycling has been a winner from COVID: new UK bike sales rose 22% in 2020 and e-bike sales, requiring regular specialist maintenance, rose 70%. As supply chains struggled to keep up with bike sales, repair became more crucial, boosted by the government’s Fix Your Bike scheme. Meanwhile, 1 in 10 bike shops has closed under pressure from online competitors soaking up retail business.

Rated one of London’s best bike repairers by the Evening Standard, fettle has serviced thousands of bikes & grown to 5 workshops, all rated 4.9*+ on Google. Fettle plans to be the biggest repair-only national network with 90 workshops.

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This pitch is approved as a financial promotion by Crowdcube Capital Limited. Every pitch on Crowdcube is reviewed to ensure it is fair, clear and not misleading.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

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fettle has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.