A taxi and on-demand delivery service using electronically assisted, high-tech cargo bikes to offer a cleaner, faster and cheaper means of transportation. Pedal Me uses highly trained riders within London to carry almost any load, including two adults, which can all be booked through their app.
Between October 2017 and September 2018, Pedal Me generated revenues of more than £125k. They will be allocating investments towards increasing efficiency and improving pickup times.
Funds in this round will be used to add more bikes, riders and use smarter technology. Pedal Me aims to have more than 30 bikes within a 3-mile radius from the city centre. This will result in reducing pickup times to less than 8 minutes from a booking being placed. In addition, the company will 'stack' delivery jobs, which means one rider will be able to carry out multiple orders in a single journey and will therefore allow Pedal Me to keep prices down for customers. Future plans include expanding the service to the rest of the UK and overseas.
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£1,500,000
pre-money valuation
9.09%
equity available
461
investors
£765
pledge per investor
10595064
company number
Administration
company status
Equity Calculator
£
%
Previous Funding rounds
15 May 24 | Crowdcube | £352,580 / 235% | |
12 May 24 | Crowdcube | £600,000 / 400% | |
12 May 24 | Crowdcube | £421,330 / 140% | 70.00% |
News
Pedal Me becomes first cargo bike operator to gain FORS accreditation - Motor Transport
13/05/2024 Motor Transport
Pedal Me cargo bike delivery company goes into administration, but shareholder buyout secures future - GCN - Global Cycling Network
04/02/2024 GCN - Global Cycling Network
Cargo bike delivery company Pedal Me goes into administration after failing to reach agreement with HMRC over debts - road.cc
02/02/2024 road.cc
London cargo bike delivery company Pedal Me enters administration, but future secured - CyclingWeekly
05/02/2024 CyclingWeekly
Introducing Pedal Me: The startup going wheel-to-wheel with Uber - UKTN (UK Technology News
06/10/2017 UKTN (UK Technology News
“Adrian, you're wrong!” Pedal Me's co-founder on cargo bikes + THAT foggy ride on the Isle of Man - road.cc
23/03/2023 road.cc
Bicycle taxi company Pedal Me to offer free transport to polling stations - Cyclist
11/12/2019 Cyclist
Pedal Me Supermarket review: Bicycle-powered food deliveries during lockdown and beyond - Cyclist
05/05/2020 Cyclist
Pedal Me smashes latest crowdfunding target on first day - road.cc
29/04/2021 road.cc
Pedal Me bans cargo bike riders from wearing helmets for safety reasons - road.cc
07/02/2022 road.cc