Social marketplace for bicycle sharing, Cycle.Land, has successfully secured its initial £100,000 funding target on Seedrs. The platform launched its equity crowdfunding campaign earlier this month seeking the funds to make its debut in five additional cities across the UK, which are Brighton, Bristol, Cambridge, Edinburgh, and London.
As previously reported, Cycle.Land received support from Oxford University Innovation Incubator in March 2016 and launched in Oxford shortly after. The website claims to have 100% month-on-month growth in total users. Its web-app enables UK members and international travelers to borrow bikes from local cyclists, families, and vendors, from as little as £1 per day. Roy Azoulay, head of Oxford University Incubator, recently revealed why the incubator decided to give support to Cycle.Land:
“cycle.land is leading the way at Oxford University Innovation as our first company to launch an equity crowdfunding campaign. Agne and her team are true visionaries, and have already been incredibly successful at turning their idea into a revenue generating business and a service that is cherished by an enthusiastic and loyal customer base here in Oxford. We’re delighted Cycle.land is working with Seedrs’s co-founder and former Oxford MBA, Jeff Lynn, so they can continue to accelerate their growth and launch in five cities across the country.”
CEO and Co-founder of Cycle.Land, Agne Milukaite, then added:
“Our mission is to get people cycling. Zipcar, Drivy, Tesla and Uber are all exciting, fast-growing companies that are making a difference in how we move. But as a society, we are in trouble if innovation is solely focused on cars. With Cycle.land, we’re building a sustainable company focused on shared bike mobility that is at least as disruptive as car and ride sharing companies. Shared bike mobility is the next great disruptor in urban transport. Amsterdam and Copenhagen today offer a glimpse at the future of urban mobility everywhere. Just like there, we believe the majority of short trips in urban areas will be made on bikes. We are delighted to be raising on Seedrs with Seedrs and offer our members the chance to own part of the company at seed stage and share in its future success.”
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