Our latest ‘inside the news’ discussion – with Martin Meir, Managing Director at REAP Bikes – explored the UK bike brand’s new crowdfunding campaign on Crowdcube.
Before discussing the latest fundraising initiative, Martin gave some background on his recent tie-up with the most decorated Olympic cyclist ever – Sir Jason Kenny – who’s on board with REAP as a partner and investor in the business.
Martin explained that the partnership with the Olympian has evolved over a number of months and that they are together “looking forward to building the world’s fastest bikes.”
Citing a ‘trade secret lay-up method that radically boosts performance’, REAP is unique as a UK manufacturer of bikes. Rather than relying on Asia for production of its bikes, the company has its own manufacturing facility in Staffordshire, central England.
During the interview, Martin explained that the decision to take on crowdfunding was to help the brand to push on with its next growth phase. He noted that Crowdcube will also help with raising the brand’s profile – something he is keen to expand in 2022 and beyond.
The REAP Crowdcube campaign went live today, May 25, at midday BST. At the time of writing, with a target of £300K, the company has already secured 53% of its funding goal – with over £160K raised.
www.crowdcube.com/reap
www.reapbikes.com
