Close

Jump to:

  • Navigation
  • Content
  • Footer

MATE.BIKE

Follow

MATE.BIKE one of the fastest growing e-bike companies on the planet

222%
 - 
Funded 3 Jul 2020
€1,000,000 target
€2,580,880 from 945 investors
More
Less

Business overview

Location Copenhagen, Denmark
Social media
Website mate.bike/
Sectors Automotive & Transport Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 37934208
Incorporation date 16 Aug 2016
More
Less

Investment summary

Type Equity
Valuation (pre-money) €56.1M
Equity offered 3.82%
Tax relief N/A
More
Less

Business highlights

  • Biggest crowdfunding campaign in Europe and 2nd biggest globally
  • Over 20,000 bikes sold and shipped to more than 80 countries
  • Grown to $18.4m in revenues and EBITDA of $0.6m in 2019
  • High profile collaborations with Moncler and Breitling
More
Less

Key features

  • Secondary Market
  • Seedrs nominee min. €10.00 +
  • Idea
  • Perks
  • Key information
  • Team
  • Updates
  • Investors 945
  • Discussion
  • Documents

Idea

Introduction

MATE.BIKE is a Copenhagen-based start-up founded in 2016 by the siblings Christian Adel Michael and Julie Kronstrøm Carton who wanted to disrupt the unhandy, granny and expensive e-bike market by making bikes cool, flexible and affordable.

In the summer of 2016, we launched the original MATE on Indiegogo that kickstarted a global biking revolution and successfully generated $8m. In July 2018, we launched our second product - the MATE X with a more amplified attitude. It got pre-orders worth of $18m and became the world’s second-largest crowdfunding campaign in history.

This year we expect to continue this momentum which is in the DNA of our business to reinvent and rethink what bikes and personal mobility should be able to do. Besides strong sales on our webshop and increasing number of B2B partners we launched two further successful campaigns in 2020. And we are just getting started!

By becoming a co-owner of the coolest company in the world, you will help us accelerate from Start-Up to SCALE-UP and get exclusive access to the Founders Edition bike with up to 1000€ off!

Substantial accomplishments to date

● Our first two MATEs were taken up by over 20,000 people in more than 80 countries.

● Built global e-commerce D2C infrastructure to handle orders and deliveries to 80+ countries allowing us to reach potential customers all over the world.

● Within 3 years of launching, we turned profitable, with revenues of $18.4m and EBITDA of $0.6m in 2019*.

● Just closed our first highly successful single market pre-order pilot in Japan with $1,7m in revenues in just a few weeks.

● MATE.BIKE is featured in more than 400 articles from 30 countries.

● Visible in some of the world's most luxurious concept stores like Harrods and Selfridges (London), Maxfield (Los Angeles), KaDeWe (Berlin), Le Bon Marché (Paris) and are expanding rapidly.

● Exclusive collaboration with Moncler on the Genius project for the Milan fashion show as the first ever non-clothing brand.

● Our bikes are loved and naturally sought after by some of the most influential people in the world like Kendall Jenner, Kate Hudson, Caro Daur and many others.

We still have room for improvement for our business as we hit some bumps on the road due to the rapid scale-up that we experienced. We intend to put some big measures in place which we believe will show visible improvements going forward:

● Partnering up with a leading global production company with multiple sites and service locations to further secure production quality and excellence going forward.

● Connecting with more local partners for better after-sales services including assembling, repairing and testing MATEs.

● Establishing a fully professional team with highly seasoned key hires at the executive level while also strengthening our operational workforce.

*Based on unaudited management accounts.

Monetisation strategy

From Start-up to a Scale-up

We want to move the market from a niche to the masses by opening it up to an entirely new group that has never considered biking before. Through our innovative products, proven playbook, as well as the help from you, we want to go from a start-up to a SCALE-UP and achieve pole position within our category.

Our goal is to inspire people to change their old habits from ordinary means of transportation such as cars and public transits to a more healthy and green way, by making e-bikes cool, fun and more affordable than the rest. The e-bike sector is booming, as the whole personal mobility sector is moving in this direction. Consequently, the market is expected to grow tenfold in the next few years.

Furthermore, recent events have pushed many cities to rethink their transportation plans and commit to more bicycle infrastructure. As a result, the acceleration in the sector that we had estimated to be over the next years, now looks likely to happen in a much shorter timeframe as policy initiatives will add strongly to consumer preferences.

Use of proceeds

The additional funds will enable us to further strengthen and accelerate our business activities:

● Localisation of Key Markets: Aiming to capture significant market share through local branches in the fastest-growing markets including US, Germany, France, Netherlands and many more.

● After-Sales: Strengthen the after-sales machinery with state-of-the-art technology and by expanding our internal customer service and technical support team as well as forging new partnerships all over the world.

● Research and Development: Development of unique concepts to create a continuous product pipeline that will continue to AMAZE as well as a new app for all new features connected to the MATE.

● Supply Chain: Establish a world-class supply chain with production in EU, Mexico, China and Brazil to provide world-wide availability at the best quality and prices possible.

● Top Talent Acquisition: Expand with a team of tier-1 specialists who can help accelerate and strengthen our business operations as we climb to the top.

● Future Forward IT Architecture: Develop a scalable IT system, including a new immersive webshop and ERP system to take us to enterprise level.

Perks

Please note that any discounts and/or offer listed by a company in it campaign are subject to the terms and conditions applied by that company. It is the company's responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key information

Legal action

Please note that Mate Bike are involved in a suit brought against them by a competitor relating to a crowdfunding campaign in 2017. Following 3 unsuccessful legal proceedings against Mate the competitor has brought another lawsuit against them. Mate does not believe this suit will be successful and are taking appropriate steps under the present circumstances to defend against the claims.

Loans

The company intends to draw down on a $1.8m loan from the Danish Growth Fund at the end of August. It is a 6 year loan with the first two years instalment free. Funds raised as part of this round will not be used to pay this loan.

Open an account to get access to the team members of MATE.BIKE

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Share on:

Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

  • About Seedrs
  • Our Team
  • Careers
  • Partnerships
  • Contact us

  • Invest
  • Raise
  • Referrals
  • Tax Relief
  • Types of Equity

  • Case Studies
  • Guides
  • Blog
  • Investor help centre
  • Entrepreneur help centre
  • Glossary
  • Feedback

  • Risk Warnings
  • Privacy Notice
  • Security
  • Terms of Service
  • Referral Fee Terms
  • Campaign Terms
  • Secondary Market Terms
  • AutoInvest Terms

Facebook Twitter LinkedIn Google Plus

For information on how Seedrs uses your personal data, please review our Privacy Notice.
Seedrs small logo

Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

Trustpilot rating
Trustpilot Stars

Trustpilot Logo

Company

  • About Seedrs
  • Our Team
  • Careers
  • Partnerships
  • Contact us

Get Started

  • Invest
  • Raise
  • Referrals
  • Tax Relief
  • Types of Equity

Learn

  • Case Studies
  • Guides
  • Blog
  • Investor help centre
  • Entrepreneur help centre
  • Glossary
  • Feedback

Legal Info

  • Risk Warnings
  • Privacy Notice
  • Security
  • Terms of Service
  • Referral Fee Terms
  • Campaign Terms
  • Secondary Market Terms
  • AutoInvest Terms

Get Social

Facebook Twitter LinkedIn Google Plus
For information on how Seedrs uses your personal data, please review our Privacy Notice.
Seedrs small logo

Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

Trustpilot rating
Trustpilot Stars

Trustpilot Logo
This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
Valuation rounded from €56,094,000

Pitch type

There are 4 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs.

Seedrs nominee

This shareholding type is available with this raise.

Find out more

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

Find out more

Direct investment

This shareholding type is available and the minimum investment required to select it.

Find out more

Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.