The manufacturer of the world’s fastest bikes, REAP Bikes, has kickstarted a Crowdcube crowdfunding campaign alongside the most decorated Olympic cyclist ever, Sir Jason Kenny in a bid to take on the cycling industry and become the go-to brand for high performance bikes.
With the bike industry growing by 40% year on year, the Staffordshire based bike manufacturer are looking to capitalise on markets worth £1.03bn in the UK in 2020*, and an estimated €18bn in Europe**.
The REAP team are now inviting others to join Jason and them, in expanding the business across both the UK and Europe through the launch of a Crowdcube crowdfunding campaign to raise a minimum of £300,000.
REAP are the UK’s only manufacturers of carbon fibre road bikes and this investment round will allow the business to accelerate its expansion plans and capacity for its British-engineered carbon composite frames.
“We believe this opportunity to be truly unique. A British manufacturer, combining with the expertise of one of the greatest athletes to ever ride a bike, to take on an industry that currently relies heavily on Eastern Asia for its manufacturing resource. In the wake of recent events, and the vast supply chain issues that the cycling industry are experiencing, now is the time to develop from our strong UK base and look to the future of the cycling industry,” states Martin Meir, REAP’s Managing Director.
Meir, a former elite-triathlete and engineer specialising in carbon fibre composite vehicles, having previously been a first-class supplier to Bentley Motors on a number of projects, founded the company of 2014.
Amongst other investors, cycling legend Sir Jason Kenny, was one of the first to support the campaign, after the public launch on 25th May, 2022.
Kenny, who retired from professional cycling in February having won nine Olympic medals, has also joined the team at REAP as Performance Partner, bringing with him decades of experience from the top of the sport.
With the UK’s most decorated Olympian now onboard, and with support from the crowdfunding raise, REAP are targeting projected revenues of £12 million by 2026.
“Together we will push the boundaries of high-end bicycle development and use this knowledge to supply ultra-high performing bikes to a wider audience,” says Kenny.
“As soon as I got my hands on the REAP bikes, I knew I was on to something special. The British team behind the design and build of the bikes has harnessed decades of experience in aerodynamics, carbon fibre composites and a passion for cycling.”
First developed in 2016, REAP’s Gen1.0 model was tested as the world’s fastest bike in its launch season when pit against market leaders.
Research recently showed that REAP’s updated triathlon bike, the Vulcan, can save riders between 4.5-7.5 minutes over an Ironman bike course, compared to its predecessor which already ranked as one the fastest bikes in the world. REAP has been refining three frames over the last six years, focusing on road bike (Vekta), triathlon bike (Vulcan) and a prototype track bike (Raptor).
“The prototype track bike is already on par aerodynamically with the bike that holds the current track pursuit world records,” added Meir.
“This gives us a great platform to develop the definitive world’s fastest bikes, in conjunction with our new Performance Partner and investor, Sir Jason Kenny.”
Designed, developed, and manufactured in Staffordshire, England, REAP’s proprietary carbon-fibre technology that makes up the frames is the driving factor that makes a REAP bike able to deliver ultimate ride performance.
Sir Jason Kenny adds: “The fact that every bike is manufactured in-house here in the UK gives the team so much control over the whole process and quality.
“It is this commitment to performance that has seen it ridden by some of the UK’s leading athletes and will make it a force to be reckoned with across cycling and triathlon in the coming years.”
For more about REAP’s campaign and Jason Kenny’s involvement www.reapbikes.com