Cowboy, an e-Bike firm based in Belgium, says it is one of the most funded “mobility tech campaigns” on Crowdcube. The company has now raised £3.7 million for an equity stake in the company. Cowboy is raising capital at a pre-money valuation of £51.4 million. So far, 2667 investors have backed the offering. Cowboy originally targeted a £1.2 million funding goal.
In a note from the company, Cowboy shared where their investors were coming from:
- Belgium
- UK
- Germany
- France
- Luxembourg
- Netherlands
- Singapore
- Switzerland
- Spain
- Australia
It is interesting to note that Cowboy is generating interest from investors across Europe (plus Singapore).
For Crowdcube, campaigns like this are indicative of the opportunity for pan-European securities offerings – something that will grow once the European Union harmonizes rules across all EU countries (even though the UK will no longer be a part of Europe).
Cowboy is also indicative of the growth of larger funding rounds. Cowboy was founded in Brussels in 2017 and, in total, has raised € 13.2 million from investors including well known VCs like Index Ventures, Tiger Global and Hardware Club. Crowcube co-founder Luke Lang calls Cowboy’s campaign a “flagship” offering having “struck a chord” with the investor community. Hard to argue that.
Regarding the Cowboy bikes, the company claims that it sold out of its inventory in Belgium last year. The bikes are not cheap. If you are looking to buy, Cowboy will set you back €1,990.00 for a one size fits all model. Shipping is free though. From the photos, the e-Bikes do look pretty cool but Cowboy is not the only entrant in the sector of mobility so it will need to keep its competitive drive going once the crowdfunding round closes.
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