Cycle.Land, a social marketplace for bicycle sharing, has launched an equity crowdfunding campaign on Seedrs to raise £100,000 as it prepares to expand. The website is on a mission to make bikes available and affordable to anyone anywhere.
The Cycle.Land team stated:
“At the core, we are a peer-to-peer bike sharing community, like Airbnb for bikes. We provide a platform which makes it easy for anyone to share their bikes with one another. Also, we facilitate the design, setup and operation of smaller bike sharing schemes. These can take many different forms. We help entrepreneurs to operate their own bike sharing schemes with 5-50 strategically placed bikes. For closed communities (universities, companies’ campus) we design, setup and operate bike sharing schemes for their staff and students.”
The company secured support from Oxford University Innovation in March 2016 and launched in Oxford shortly after. Since its debut, it has created a bike sharing community and claims to have 100% month-on-month growth in total users. It was revealed:
“Cycle.land has contracts to provide shared bike mobility as a service with Oxford University Estates Services, Oxford University Graduate Accommodation Centre and Lady Margaret Hall. Cycle.land is delivering share bike mobility services to the highest satisfaction for our partners. We are currently in talks with Saïd Business School and Oxfam to establish partnerships. Since March 2016 Cycle.land has contracted services to the value of £23,800.”
Cycle.Land plans to expand into five new locations, which are Cambridge, Bristol, Brighton, Edinburgh and East London. Additional funding will be used for marketing, customer support and community leadership recruitment. So far, the Seedrs initiative has raised over £43,000.
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