Wattbike has secured new third party debt funding to help finance its international expansion strategy, as well as… ‘launch an exciting new product and propel its unique digital offering.’
The business has a customer base that includes more than 500 Olympic medallists, elite athletes, Premier League, NFL and NHL teams. It has also been the training bike of choice for 12 Champions League-winning football teams.
Earlier this year Wattbike hired Stephen Loftus (previously Chief Commercial Officer at Brompton where he helped quadruple the size of the business) as CEO. Also on board is sports market veteran Greg Nieuwenhuys as Chairman.
With the new debt funding and backing of Piper, which originally invested in the business in 2020, Wattbike’s leadership team notes that it is… ‘in a strong position to unlock a series of strategic growth opportunities to support the brand’s next phase of growth.’
Stephen Loftus, CEO of Wattbike, said “We are delighted to secure new debt financing to support the acceleration of our growth strategy. We have a very exciting new product pipeline and a team with the experience and vision to turn Wattbike into one of the world’s leading training platforms.”
