© Sebastian Steveniers
Electric bike maker Cowboy has raised fresh cash from investors to support its “growth towards profitability”. The Brussels company confirms this on Thursday. It does not disclose further details.
Today at 00:19
A month ago, Cowboy CEO Adrien Roose had already said in an interview with La Libre that the scale-up was about to complete a capital round of 15 million euros with institutional investors. According to De Tijd, the operation took place at a lower valuation than a year earlier.
In a press release about new technology on its electric city bikes, Roose now confirms that Cowboy secured “additional funds to support our latest product developments.” The bicycle repairman does not provide further details about the money collected and under what conditions.
Cowboy will also launch another crowdfunding campaign via the Crowdcube platform “later this month”. Roose previously said to La Libre that the company is aiming for around 1 million euros.
“2022 was our best year ever with 41 million euros in revenue, 2.7 times more on an annual basis,” emphasizes Roose. “And we’ve seen strong sales so far in 2023.”