One of Britain’s longest-established bicycle manufacturers Pashley is launching a crowdfunding campaign inviting customers to join its journey for the first time in its 97-year history.
Pashley is seeking investment in three core areas: electric assist leisure cycles, bike share products for public and private schemes, and e-cargo delivery cycles.
The funding will also enable the company to invest in the team going forward.
Steven Bell, Pashley’s General Manager, told Zag Daily why these areas are crucial to accelerate its growth.
“Pashley has always manufactured hand-built classic products and has built up a worldwide reputation for them. We are keen to continue to offer these highly regarded products to our customers and add electric assist to our offering in response to demand.”
He said the firm moved into the bikeshare market in 1996 to provide another segment to compete in and then won the tender to supply the London bike share scheme.
“The cargo delivery market is also now growing rapidly as businesses and consumers look to reduce the carbon impact of delivering their goods and services. We have supplied into the sector for 97 years! Our ambition is to further develop our existing range to service a wider array of customers to make carrying goods on a bike or trike much more convenient, and do so by offering durable products manufactured in the Pashley factory.”
The projected value of the global e-bike market is expected to reach nearly £100 billion by 2030. Additionally, forecasts indicate that the e-cargo market will experience substantial growth, increasing from £1.7 billion in 2023 to £5.2 billion in the next decade.
With its award-winning e-cargo cycle already in production and advanced trials with major delivery fleets, a history that dates back to 1926, and having worked with many iconic brands including Mulberry and Montblanc, Pashley is well-placed to deliver on its potential.
The crowdfund will be launched through Seedrs mid-November.