UK Cycle Centre, unique online marketplace for cycling kit, is seeking investment via a crowdfunding campaign on Crowd2Fund.
UK Cycle Centre is aiming to raise funds through a £40,000 revenue loan, at a 9 percent interest rate, to expand the company globally in a number of key European markets. Set up in 2014 by avid cyclist Adam Broadhurst, the company retails new and approved used bicycles, including a large range of accessories, and makes it cheaper for users to ride by allowing them to sell and exchange part of their bicycle without charges or fees.
Broadhurst’s enthusiasm for cycling started when he was just 15, and he has since trained up to five times a week. This passion, combined with an education in Business Management, resulted in the creation of the UK Cycle Centre. During the company’s first two years of trading turnover increased by 300% year on year, and is estimated to hit £1 million by the end of year three.
UK Cycle Centre are now looking for an injection of funds to grow the business by increasing their product range, employing new staff and expanding their current Malvern retail site as well as opening a new flagship retail store in the Bristol area. Funds will also go into work on a new website to offer their customers the best possible service. With a successful crowdfunding campaign, UK Cycle Centre aims to become an international company within five years.
The company chose Crowd2Fund, one of the UK’s leading peer-to-peer lending platform meet their funding needs. Broadhurst said of the choice: “We wanted to find a platform for longer term investment. Crowd2Fund as a professional and flexible partner, deliver quickly so was the right choice for UK Cycle Centre.”
As well as offering an interest rate of 9%, the campaign offers a number of rewards to to investors who inject cash above certain thresholds, including scaling discounts of up to 15%. For more information on how to get involved, visit their crowdfunding page here.
Miranda Wadham on 03/08/2016