Rent your children’s bikes, urges The Bike Club
Codex Capital of Mayfair, London, is betting on family cycling success by investing £5.7 million in the bike-rental scheme, The Bike Club. Founded in 2016 by Alexandra Rico-Lloyd and James Symes, The Bike Club offers parents and guardians the chance to rent bicycles online and then exchange them as their child grows.
The monthly subscription program—costing between £5 to £15 per month—currently has a fleet of 16,000 bicycles and, with the new investment, is planning to expand that to 150,000 over the next three years.
Approximately 700,000 childrens’ bikes are sold in the U.K. annually.
The bike brands on offer from The Bike Club are Forme, Frog, and Squish. The U.K.’s leading premium brand of childrens’ bicycles—Islabikes—is not part of the service.
The Bike Club founder Alexandra Rico-Lloyd and James Symes.
“Our business model has always been focused on helping families to have bikes that grow with them, effectively solving the pain of constantly having to buy a new kids’ bike every 12-18 months,” said Symes.
“The Bike Club is a solution to a widespread problem for parents and the industry,” he added.
