Bikmo, a specialist cycle insurer operating with a remote-first business model, is looking to move up the gears with an additional 拢4.75 million of funding from Puma Growth Partners.
The growth funding round builds on the 拢3.4m investment led by Puma in October 2023 and will be used to drive growth in Europe across direct sales, partners, leasing and commercial channels.
Bikmo has also announced the appointment of Steven Mendel, former CEO and co-founder of ManyPets, as chair while earlier this year Ben Thompson, ex-director of global business development at Komoot, was appointed chief growth officer.聽
Gemma Germains, formerly Canyon鈥檚 global head of digital experience design, joins as chief experience officer.聽
Bikmo continues to strengthen its position in the cycling ecosystem with several new key partnerships. The company has recently announced major collaborations with Cycling UK, the Association of Cycle Traders (ACT) and global cycling brand Trek.聽
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鈥淭his latest investment is a massive boost for our mission to protect the world鈥檚 riders and I鈥檓 delighted Puma Growth Partners have seen how bright the future is with Bikmo,鈥� said David George, CEO.
鈥淲ith fresh global experience in our new leadership talent and strong partnerships with the likes of Cycling UK, the ACT and Trek, we鈥檙e 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.
鈥淭his significant second round of investment from Puma is a resounding endorsement of our business model, the strength of our pipeline and our team鈥檚 ability to deliver.鈥�