Pedibal has launched a new crowd capital drive with the hook of a £10 electric folding bike attached for those who invest in the firm’s expansion.
Using CrowdCube, the electric bike brand is asking for a capital investment of £1,400 or more to recoup the offer, redeemable against the firm’s £999 CitE Navigata folding bike.
Pedibal founder Joe Mulcahy explained: “As well as the financial benefits we wanted to give our backers the chance to be a part of this very exciting project from day one. We believe that we have designed and produced the most affordable and practical folding electric bike on the market. Many people have been attracted to the idea of sustainable transport solutions for some time, but have found that barriers such as cost, security of the bike while at work and the usability of the actual bike get in their way. We believe the Navigata is a big step towards breaking down these barriers and changing how we commute and how we travel.’
In November of last year The Guardian badged the Navigata as “the best-value folding electric bike to hit the streets.”
As part of the CrowdCube the firm is giving away 5% equity in its business, targeting a goal of £150,000 in fresh funding.