Bikmo, a prominent cycle insurance provider, has successfully raised an additional £4.75 million in growth funding, marking a significant milestone in the company’s mission to become the leading insurer for cyclists. The company, which offers a range of comprehensive insurance policies for bicycles, cycling gear, and individual cyclists, serves a growing market across the UK, Ireland, Germany, and Austria. This latest funding round will not only help Bikmo enhance its operations but also further solidify its presence in the European cycling insurance landscape.
Bikmo’s team, which consists of 55 remote employees spread across 10 countries, is united by a shared passion for cycling and a commitment to making cycling insurance simpler, more accessible, and tailored to the unique needs of cyclists. As a remote-first company, Bikmo is able to attract top talent from across the globe, creating a diverse team of experts dedicated to transforming the insurance experience. The company’s culture emphasizes innovation and a customer-centric approach, with a focus on providing cyclists with the peace of mind they need while enjoying their passion for cycling.
Along with the new funding, Bikmo has announced several key partnerships, which will play a critical role in expanding its customer base and improving its offerings. Notably, the company has forged strategic relationships with Cycling UK, the ACT (Association of Cycle Traders), and Trek, all of which will provide valuable industry connections and drive further growth. David George, CEO of Bikmo, expressed his enthusiasm for the new leadership talent and partnerships, stating that they would help the company deliver even greater value to cyclists and bike businesses. These partnerships, he noted, will help make insurance simpler and more accessible for cyclists, an essential step toward meeting the evolving needs of the cycling community.
In addition to the funding and partnerships, Bikmo has made several key executive appointments that will enhance its leadership team and guide the company through its next phase of growth. Steven Mendel, former CEO and co-founder of ManyPets, will join as Chair of Bikmo (pending FCA approval), bringing with him invaluable experience in scaling and leading high-growth businesses. Bikmo has also appointed Ben Thompson, former Director of Global Business Development at Komoot, as Chief Growth Officer. Thompson’s expertise in growing global brands and expanding market reach will be instrumental in accelerating Bikmo’s expansion across Europe. Moreover, Gemma Germains, who previously served as Canyon’s Global Head of Digital Experience Design, joins as Chief Experience Officer. Germains’ deep expertise in digital design and customer experience will help Bikmo enhance its online platforms and better serve its customers.
Kelvin Reader, Investment Director at Puma Growth Partners, expressed excitement about the investment’s potential to propel Bikmo’s growth. He highlighted the company’s plans to accelerate its expansion across Europe, strengthen existing partnerships, and broaden its range of commercial insurance offerings. Puma Growth Partners is also committed to supporting businesses in the North West of England, with Bikmo’s new office in Manchester under the leadership of Investment Director Mark Lyons. This new office will further solidify Bikmo’s presence in the region and contribute to the growth of the local startup ecosystem, which continues to see an increasing number of scale-up businesses.
With this new round of funding, Bikmo is well-positioned to accelerate its growth strategy, expand its market share, and continue offering innovative solutions for cyclists. The company’s ongoing commitment to simplifying the insurance process, combined with its new leadership team and strategic partnerships, will be key drivers in its continued success. Bikmo’s focus on customer satisfaction, ease of use, and accessibility ensures that it is primed to meet the demands of an increasingly diverse and growing global cycling community.