Cowboy rounds up €1.57 million in latest mobility funding round

Connected eBike brand Cowboy has raised €1,571,960 through crowdfunding platform Crowdcube, smashing its €1 million mobility funding target in less than 48 hours.

Over half of the investors were aged 31-50, while a fifth were officially young (18-30). They hailed from 41 different countries, with humans from Belgium (its home nation), France, Germany, the UK and the Netherlands stumping up most of the cash.

Cowboy reckoned it was the most popular mobility crowdfund of the year, though competitors have a bit of time to see if the total can be exceeded. While a large sum, it didn’t quite hit the peak that Cowboy achieved in March 2022, of €3.2 million (also with an initial aim of €1m), which may well reflect restricted customer wallets.

Cash from this latest round of investment is set to support the business’s latest hardware and software development as well as continuing to invest in quality and customer service.

“Since our last crowdfund, the global economic situation has shifted significantly, and yet we hit our target in under 48 hours, have welcomed 1338 investors to our community from around the world and completely exceeded our expectations,” said Adrien Roose, Co-Founder and CEO. “We want to thank our loyal fans in Belgium who continue to support us as we help to put this country’s history of design and manufacturing on a global stage. With the backing of our passionate investors, we continue on our path to profitability whilst developing cutting edge innovation that we can’t wait to unveil throughout this year.”

In 2022 Cowboy achieved €41m revenue and 2.7x year on year growth as well as returning to pre-pandemic gross margin levels. The brand is reportedly the first e-bike manufacturer to achieve B-corp status in December last year.

Earlier in 2023, Cowboy signed a deal with Selfridges to retail from its flagship Oxford Street store and online.