Wattbike seeks backing to accelerate global expansion

Nottingham-based smart bike specialist Wattbike is looking to move its international growth plans up a gear and has put out a call for a new investment partner to join the ride.

Wattbike’s customer base includes more than 500 Olympic medalists, elite athletes, Premier League footballers, American footballers and NHL hockey stars. It has been the indoor training bike brand of choice for 12 Champions League-winning football teams.

Following a period of growth which has seen it welcome new CEO Stephen Loftus and chairman Greg Nieuwenhuys, the company is seeking investment to support strategic initiatives including new product development and leveraging its market position in the UK to facilitate further expansion into North America, Asia, Europe and the Middle East.

Wattbike was previously backed by Piper, which invested in the firm in 2020 and will participate in the upcoming funding round. In November 2022 the business landed a £3.25m asset-based funding line with Praetura Commercial Finance.

Wattbike CEO Stephen Loftus said: “We are proud to be the most popular performance smart bike in the UK and see a huge opportunity, especially in the US, China, Japan and Germany, to continue growing our international customer base. We have a very exciting new product pipeline and a leadership team with the experience and vision to turn Wattbike into one of the world’s leading training platforms.

“We look forward to finding a partner who shares our passion for producing the most accurate and reliable smart bikes on earth and will enable Wattbike to accelerate our global expansion plans.”