Moloko Cycling

Moloko is a cycling services company whose mission is to make cycling easy, affordable & fun. Members can rent or buy bikes, join a welcoming community of riders and discover amazing pre-planned routes. They are fundraising to scale their model in the £49bn cycling industry.

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Min Investment
$1
Location
United Kingdom
Target Raise
£150.00K
No. Investors
125
Valuation
£1,298,979

Company Description

We've been keen cyclists for over a decade. When Covid hit, our friends & family came to us for support to get more from cycling. We created Moloko cycling services for people to access the joy & wellbeing that cycling provides., Our key cycling services include; 1-2-1 support to find your ideal bike to rent or buy, & tips and recommendations on great kit from our advisory providers, friendly organised group rides for every level, curated cycling tours, plus a library of pre-planned routes to help you get the best out of cycling., We have a pipeline of partnerships in progress which include; Sigma Sports, Pearson Cycles, Ribble bikes, Universal Colours clothing, Veloforte nutrition, HotChillee tours & Fettle bike maintenance., Our social community is global and growing rapidly with 21k+ followers, 102% monthly growth & an estimated 1.6m social accounts reached in the last 3 months., We began serving a word-of-mouth pilot for bike rental & sales in May 2021 since then we’ve served 40+ customers to date with demos, weekly/monthly rentals & sales. The rental model exceeded our expectations with an average rental income of £77pm (£15k revenue & £489 EBITDA in the last 12 months)., The UK cycling market has grown by 45% in 2020 up to £2bn with 7.5m Brits cycling regularly. This provides us with headroom for growth both in the UK and globally.

Key Deal Facts

10+ key cycling brand relationships in progress with more in the pipeline, New website & London showroom launched in July '22, 21k+ social followers. Our marketing had an estimated reach of 1.6M accounts in the last 3 months, 160+ monthly bike rentals & sales in the last 12 months
Amount Raised : £112,043
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