Wattbike lands debt funding deal in bid for global expansion

Wattbike, the Nottingham-based training and fitness platform focused on indoor cycling, has secured third party debt funding to help finance its international expansion strategy, launch a new product and push forward with its digital offering.

The business has a customer base that includes more than 500 Olympic medallists, elite athletes, Premier League, NFL and NHL teams. It has been the training bike of choice for 12 Champions League-winning football teams.

Earlier this year Wattbike hired Stephen Loftus (previously chief commercial officer at Brompton where he helped quadruple the size of the business) as CEO and sports market veteran Greg Nieuwenhuys as chairman.

The new debt funding comes via Piper, which originally invested in the business in 2020.

Loftus said: “We are delighted to secure new debt financing to support the acceleration of our growth strategy. We have a very exciting new product pipeline and a team with the experience and vision to turn Wattbike into one of the world’s leading training platforms.”

AlixPartners UK acted as financial advisor to Wattbike and Piper in connection with the financing.