Cycling specialist Cadence raises £500,000 from group of angel investors
Backing of multi-channel cycle service to fund expansion across London
London-based cycling start-up Cadence has secured £500,000 from a group of high-net worth angel investors to help support its growth across the capital.
Launched in 2012 by GP Ray Vella and his former patient Frank Beechinor, Cadence claims to offer a “one-stop shop” for cycling enthusiasts; offering a range of bike-related services, such as bike fitting and fitness coaching and training, all under one roof.
It also runs ‘cycling café’s’ where cyclists can convene and share advice, as well as a bike workshop catering mainly to high-end road, and triathlon bikes and it holds social events with professional riders and specialists as keynote speakers.
Currently based out of Crystal Palace, the company plans to use the funding to “enhance and expand” its London presence and open up a series of bike stores and café’s with the goal to attract “thousands more” cyclists and bike-lovers.
Cadence CEO, Beechinor, commented:
“Ray and I used to cycle a lot together, and we noticed a glaring gap in the market for somewhere for cyclists to convene; a special venue where bike lovers could gather, receive advice and access a range of cycling-related services that would help them to become better on two wheels.
“After a few months of planning, we launched Cadence to a great local response, and now with the backing of our investors, we hope to expand and take our unique cycling community to new venues in London.”