London, 9th December 2021
Bike.Rent Manager (BRM) the world’s leading bike rental platform, has secured £490k of investment in a recent funding round in partnership with Universum Wealth. BRM is profitable, growing fast with customers in over 27 countries. BRM is the industry standard for bike rental platforms globally.
The funds will be used to accelerate BRM’s product development and growth, and to maintain the high level of customer service for which the company has become known. It will also allow the roll out of the upcoming bike.rent B2C portal.
Sean Young, Investment Partner from Universum Wealth, commented “We are very excited to join the BRM journey, Doug and his team have built a fantastic business with a sector leading product, which already has international reach. The total addressable market is in a secular growth phase for many years to come, thus this investment will continue to fuel expansion and help the BRM team create one of the leading bike rental ecosystems globally.”
Doug Stoddart, BRM CEO, commented: “We are delighted to welcome this new investment and partnership with Universum Wealth. Not only will the funds allow us to further accelerate our growth but the team and new investors bring a wealth of experience across many industries with a particular interest in cycling and B2C opportunities”
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