During our last crowdfunding campaign, our focus was on growing our peer-to-peer bike sharing community. We provided a platform which made it easy for anyone to share their bikes with one another.
Since then, we’ve grown above and beyond and have successfully worked with global companies such as OFO and Mobike to launch and manage large-scale bikeshare schemes across multiple cities. This experience has prepared us for the next stage of the company.
We have recently formed a joint venture with Youon, China’s largest and most successful public bikeshare company. Youon is well known in China and is supported by Alibaba’s financial affiliate, Ant Financial. Youon is the parent company to HelloTranstech (formerly Hellobike) who is a leader in mobility in China, having raised over $1.2 billion from Alibaba, with Softbank also looking to invest. You will find a summary of the Joint Venture Arrangement in the ‘Documents’ section of the campaign.
We couldn’t have dreamed of reaching this level of success without the backing of our community, who have been there for us since we spun out of Oxford University Innovation.
In our next phase of growth, we are excited to be opening a small crowdfunding round to bring our community on our journey once more.