Reap releases additional equity after reaching initial £300,000 crowdfunding target

The team behind Reap Bikes has received widespread support from the cycling community, reaching its initial crowdfunding target of £300,000 with three weeks to spare.

With this target now reached, the Reap board has released additional equity for others to also invest allowing the brand to accelerate its expansion plans.

Reap’s major growth plans will focus on three core areas. The first stage of growth, supported by performance partner Sir Jason Kenny, will see the team further refine the ride and performance of its road, triathlon and track frames.

Reap’s focus on developing world-class British engineered performance bikes will see continuous research, development and refining of its bikes led by the world’s leading British engineering experts and riders. Alongside its ongoing product development, the team said it will create a seamless customer experience akin to the finest British performance brands.

Both in-person and digital experiences will mirror and draw from their automotive experience. The final strand of activity resulting from the investment will be to drive sales and marketing. Plans will initially focus on the UK, before moving internationally across Europe and beyond.

Part of this will include a new Reap fleet experience allowing riders across the country to experience the enhanced performance features designed into each bike.

“As soon as riders get their hands on a bike – they get it,” said Martin Meir, managing director of Reap Bikes. “We therefore wanted to create an experience that we can take on the road, allowing riders to fully understand what Reap’s British engineering has brought to cycling. Our vision is to initially take our Reap experience to major cities across the UK – but then expand this internationally.

“Alongside the greatest Olympic cyclist ever, Sir Jason Kenny, we have some of the UK’s best minds in engineering making a powerful team to take Reap from a one of the world’s fastest prototypes, to a world leading cycling company.”

With additional equity released, Reap is continuing to invite investment through to the Crowdcube campaign’s closing date on 24th June 2022.

Read more: Vittoria and A Dugast announce new regional headquarters in the Netherlands

Meir added: “Although we are delighted to have reached the £300,000 milestone, with more investment we can accelerate the implementation of our plans.”

To find out more about investing in Reap alongside Martin and Jason, visit https://www.crowdcube.com/companies/reap-design-limited/pitches/lmXNGq.

In other news...

Chris Boardman appointed as permanent Active Travel Commissioner 

Olympic gold medallist and cycling advocate Chris Boardman has been permanently appointed as the National …