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Successfully funded
overfunded
Pedal Me
235%
Raised
£352,580
Investors
461
Target
£150,000
Equity
19.03%
Pre-money valuation
£1,500,000

In operation 18 months, Pedal Me use high-tech e-assist cargo bikes and highly trained riders to provide a competitively-priced, faster, cleaner taxi and on-demand delivery service. To keep up with our current organic growth we need more bikes, smarter tech and more riders.

  • Strong organic growth (24% CMGR)
  • Positive feedback and 5* reviews from customers
  • Greater carrying capacity than competitors due to our training
  • Reaching limits of current capacity and need to expand to keep pace

Idea

In London, there are 400k taxi and private hire vehicle (phv) trips per day on average (TfL), worth about £1.46 bn per year (assuming low-end estimate average of £10/trip). Alongside this, 14% of all vehicle miles travelled in London are by LGVs (vans).

We combine competitive pricing, shorter journey times & a cleaner alternative to taxi and logistics services in London to compete for this market, using highly trained staff and specially designed e-assist cargo bikes. We can carry two adults or pretty much any load that doesn't need a forklift truck (& some that do), all booked via our app.

Revenue: We ran 24% CMGR of £19,822/month in Sept 18. Oct 17 to Sept 18 Revenue is £125,381.70, Net Loss -£60,399.33. We aim to continue this growth with investment to improve pickup times and efficiency.

Our vision: 30+ bikes for London providing <8 minute pickup times within a radius of 3 miles from the centre. Additional tech that supports 'stacking' or pooling of delivery jobs, driving higher efficiencies by linking jobs up. This allows us to bring down prices & realise our speed advantage fully, to be cheaper across all our market segments. Then expansion to other cities in the UK & abroad.

Exit - Uber & Lyft to Logistics companies may be interested in buying our expertise/infrastructure. Stuart recently sold for an undisclosed amount after raising money against a £45m valuation pre-launch.

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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.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Pedal Me 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.