Bikmo Secures £4.75 Million Investment and Bolsters Leadership Team for European Growth

Bikmo, a leading specialist in cycle insurance with roots in North Wales, has announced a major milestone with the acquisition of £4.75 million in funding from Puma Growth Partners. This fresh investment is set to fuel Bikmo’s ambitious growth plans across Europe, focusing on direct sales, partnerships, leasing, and commercial channels.

The funding coincides with significant additions to the company’s leadership team, including Steven Mendel as Chair (subject to FCA approval), Ben Thompson as Chief Growth Officer, and Gemma Germains as Chief Experience Officer. These appointments bring a wealth of global expertise, further strengthening Bikmo’s position in the insurtech and cycling sectors.

Strong Foundations in North Wales

Founded in 2014 in North Wales, Bikmo has grown into a major player in the cycling insurance market, with its headquarters now in Chester. The company remains deeply connected to its Welsh roots, which have been instrumental in shaping its success and vision.

Strategic Partnerships and Industry Collaboration

To enhance its influence in the cycling industry, Bikmo has established strategic partnerships with prominent organizations such as Cycling UK, the Association of Cycle Traders (ACT), and Trek. These collaborations are aimed at making insurance more accessible while creating value for cyclists and bike businesses.

Leadership Comments on the Milestone

“This latest investment is a massive boost for our mission to protect the world’s riders and I’m delighted Puma Growth Partners have seen how bright the future is with Bikmo. With fresh global experience in our new leadership talent and strong partnerships with the likes of Cycling UK, the ACT and Trek, we’re setting ourselves up to deliver even more value to cyclists and bike businesses, making insurance simpler and more accessible for everyone who loves to ride.”

– David George, CEO at Bikmo

“This significant second round of investment from Puma is a resounding endorsement of our business model, the strength of our pipeline and our team’s ability to deliver. The additional capital will enable us to further accelerate our growth across Europe and deliver exceptional value to our customers.”

– Louise Towers, CFO at Bikmo

“Bikmo has already achieved strong growth across the UK and Europe, securing important partnerships as it works to become a leader in cycle insurance. Looking ahead, I’m eager to help drive further expansion and support the development of a world-class leadership team. With my experience in scaling insurance companies, I’m excited to work closely with the talented Bikmo team to unlock greater opportunities for growth and innovation.”

– Steven Mendel, Chair at Bikmo

“The new strategic hires from Canyon Bicycles, Komoot and ManyPets will be pivotal for Bikmo’s growth. We are excited to back the business again in this investment round to accelerate their growth across Europe, secure new partnerships and expand their commercial insurance offerings.”

– Kelvin Reader, Investment Director at Puma Growth Partners

A Bright Future Ahead

With its strengthened leadership team, robust partnerships, and strategic funding, Bikmo is well-poised to continue its upward trajectory. The company’s commitment to innovation and delivering exceptional value to cyclists underscores its mission to make insurance simpler and more accessible.