MATE.BIKE one of the fastest growing e-bike companies on the planet
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 |
Investment summary
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
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!
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.
