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153%
Raised
£138,310
Investors
162
Target
£90,000
Equity
15.57%
Pre-money valuation
£750,000

Pedals is a green, affordable, on-demand bicycle delivery service for London. Pedals have developed their own technology to allow any business to arrange delivery by bicycle using the spare capacity of everyday cyclists. Pedals have already made over 2500 deliveries for a variety of clients.

  • Forecasting 1000 deliveries a month by the end of 2016
  • Accepted into the Geovation accelerator programme
  • Founding team from Y Combinator and Secret Escapes
  • Plan to integrate directly with retailers for seamless deliveries
Information Following discussions with prospective investors, the Pedals team have decided to offer an even better deal to investors by increasing the equity on offer from 8.26% to 10.71% (reducing their pre-money valuation from £1m to £750k). Owing to these discussions, Pedals' Campaign has been extended to the 15th of December. Owing to an unforseen change in circumstances, a connected investor has had to withdraw their intention to invest £12,000.

Idea

Pedals is a green, affordable, on-demand bicycle delivery service for London. We provide eco-conscious companies and individuals with a green, hassle-free, and affordable option for delivering goods. We're using the spare capacity of commuting cyclists to create an environmentally sustainable and reliable distribution strategy and are reinvigorating existing courier services with personal, old school bicycle delivery to transport products with care, precision and speed. Prices start at £6.70. Customers can hire cyclists by simply specifying a pick-up location, drop-off destination, and precise time slot. For multiple deliveries, cyclists can be hired by the hour for as little as £15. Pedals automatically calculates the quickest and safest route for our team of pro cyclists.

Startups in the early growth phase are currently our biggest customers. The green delivery option is then built into their brand as it grows, appealing to the growing number of eco-conscious customers out there. Pedals already works with some of London’s most exciting startups including Brew by Numbers, See Sense, and Pip & Nut.

We estimate that we have made over 2500 deliveries so far and our best day was 102 drops. Five months ago we were accepted onto a government-backed accelerator program called Geovation, which is part of the Ordnance Survey. They gave us a small grant, provide us with office space and general support for our business.

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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.

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

Tax relief is available to individuals only, with income tax relief currently set at 50 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.