Online marketplace platform BikeZaar has secured Angel investment as it looks to expand.
BikeZaar is a marketplace for cyclists and triathletes that passes orders through to independent bike shops. Promising to integrate digital and face-to-face service for this technical market, BikeZaar says it connects supply and demand more precisely.
The investment round was led by Gareth Mobley, formerly the founder and CEO of Solidor and DW3 and now owner of an early-stage investment company, My Clever Group.
Alistair Brownlee MBE – Olympic, Commonwealth, World and European Champion – and Jonny Brownlee – World Champion, Olympic and Commonwealth medallist – also participated in the investment round and have an equity share in the business.
Alistair Brownlee and Gareth Mobley join the Board as Non-Executive Directors.
“bikeZaar is a highly innovative company with an advanced, globally scalable, leading edge online marketplace platform,” said Mobley. “When you consider that the world’s top firms measured by market capitalisation, all run platform business models – Apple, Amazon, Google and Microsoft, bikeZaar has huge growth potential. Retailers of any size now have the opportunity to participate and take a share of the growing online market.”
Alistair Brownlee MBE said: “bikeZaar empowers local bike shops, giving them the technological tools to transition from high-street based sales to embracing e-commerce, rather than suffering from it. The business provides owners with the digital skills needed to give them the confidence to transition and transact within an online e-commerce community, empowering them to compete with national and global brands on a more even playing field.”
Consisting of a community of high street bike shops, brands and service providers, BikeZaar provides a differentiated service and an inspirational shopping experience for consumers. The platform aggregates offline supply; inventory held in supplier warehouses and in retail stores, making it available for customers to quickly find, compare and buy online with a choice of delivery, or collection in a local bike shop.
BikeZaar was founded by Kevin Griffiths, an experienced Director in the technology and cycling space, and whose family is steeped in cycling history both in competitive racing and in business.
“We are delighted to receive this investment and are very grateful to Alistair and Jonny Brownlee for their support. bikeZaar is all about collaboration and we feel we’ve connected with experts who share our ethos and want to support local retailers by combining tradition and technology,” said Kevin. “Thanks to companies like Amazon, Airbnb and Uber, we’re seeing a revolution in e-commerce. Within 3 years it is predicted that 40 percent of all e-commerce will be via a marketplace due to an easy purchasing experience on the consumer side and cost-savings through economies of scale for retailers. With this investment, we can scale this model and make bikeZaar a truly global enterprise that reinvigorates high streets around the world.”