Bikmo, a specialist cycle insurer operating with a remote-first business model, is looking to move up the gears with an additional £4.75 million of funding from Puma Growth Partners.
The growth funding round builds on the £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.
Gemma Germains, formerly Canyon’s global head of digital experience design, joins as chief experience officer.
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.
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“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,” said David George, CEO.
“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.
“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.”