Riders first, as VanMoof’s launches second investment round
VanMoof invites riders to invest €2.2 million and benefit from rapid growth thanks to global e-bike upsurge
Amsterdam, 12 June 2019 - Today, VanMoof opens their second round of equity crowdfunding to its riders. The bike-meets-tech brand invites riders to join the e-bike wave and benefit from the company’s rapid growth. The funding will be used to scale up production to meet record-breaking demand and continue conquering the international market, turning crowdfunding into an essential part of their growth strategy.
Rewarding riders for accelerating growth
The new crowdfunding campaign builds on VanMoof’s reputation as one of the most innovative and unconventional brands in the international bike industry. It follows 2017’s first offering, which broke all Dutch records and raised the legal maximum €2.5 million in just seven days. As a result, VanMoof was able to speed up their international expansion, opening up four brand stores across Europe, the US, and Asia.
“VanMoof’s riders know us better than anyone else, so they’re the perfect investors. Crowdfunding once again puts them front and center, rewarding their loyalty and letting them benefit from the company’s success. They get first option to fill up as much of the €2.5 million target as possible, and fuel the sustainable growth of VanMoof in our tenth anniversary year.”
Turning riders into agents of change
A total of €7.5 million is aimed to be raised via crowdfunding in 2019, split into €2.5 million from individuals investing between €250 and €80k and €5 million from individuals investing €100k or more. VanMoof requires this capital in order to scale up and continue conquering the international market – now representing almost 70% of all company revenue. Funds raised will be used to radically scale-up the company’s production in the short term, and help meet the rising demand for VanMoof's subscription Smart S & X bikes, first launched in April 2018.
Tipping point for e-bikes
2019 has already been a blockbuster year for VanMoof. Revenue to the end of April surpassed the total for 2018, and is forecast to grow from €11 million to €40 million by year-end. Following the launch of the Electrified S2 & X2 in June 2018—the biggest bike pre-order in history—consumer demand has outpaced supply for over a year.
“This injection of capital will allow us to rapidly invest in R&D, developing the next generation of our smart, forward-thinking bikes, and getting them to riders as quickly as possible.”
Right now, cities all over the world are investing billions in cycling infrastructure, quite literally paving the way for an e-bike revolution – with VanMoof leading the change. London alone is spending almost €1 billion in the next 3 years to get more people out of cars and onto bikes. To boost the number of its own bike commuters, Paris is on track to outspend that. This huge trend is set to make the global bicycle industry explode. In the next 5 years, the industry value is projected to rise to €62 billion, with e-bikes driving more than half of this growth. These factors combine to make e-bikes the most compelling commuter choice of the coming decade.
Crowdfunding open now
The campaign, run through European crowdfunding platform Oneplanetcrowd. The campaign can be found at vanmoof.com/opc . Investors can provide a loan with the right to convert into shares in VanMoof. Riders can invest starting from €250, up until over €100,000.