RideTo, the online marketplace for new motorcycle riders closes £325,000 seed round from Money.co.uk Founder
Posted on
Motorcycle Industry Statistics
-
Motorcycle industry in the UK has been valued at over £5.3 billion
-
According to DVSA statistics 220,000 motorcycle practical riding tests were conducted in 2017
-
RideTo was listed this week as one of the ‘top 100 most awe-inspiring and fast-growth potential new businesses launched in the last three years’ in the Startups 100.
-
In less than a year since launch, RideTo has more than 500 new customers a month and growing 40% month on month.
London based RideTo announced today they have raised £325k in a second round of funding. The funds will be used to continue expansion plans into all major cities across the UK, having already branched out to Manchester and Birmingham from its original London network. The Company will also be investing heavily into their platform, offering additional services and value to new motorcyclists. This latest round was led by Angel Investor and Money.co.uk Founder Chris Morling who was joined by the Chairman of Aspall and a small number of other Angel Investors.
RideTo, was founded by James Beddows, who, (like most Londoners) got fed up with his daily commute. In an attempt to avoid the busy and unsavoury underground, he decided to switch to riding a scooter which proved to be a challenge in itself. The market he encountered at the time offered little in the way of assistance to first time riders. The solution was RideTo, an intuitive and accessible online marketplace for new riders, which launched in June 2017.
Chris Morling added “There aren’t many sectors that are still waiting to be modernised, but RideTo has found one. The service that RideTo provides is overdue, and early results show that customers agree. It’s always exciting to be involved with a business that is genuinely disrupting a market. {Chris Morling, Founder - Money.co.uk}
RideTo have already helped 1000’s of new motorcyclists get on the road. They enable learner riders to easily book reviewed motorcycle training schools online and access a platform of motorcycle guides, learning resources and advice.
Founder of RideTo, James Beddows said: "Learning to ride currently has too many barriers and inefficiencies, for beginners it can be a mind-boggling experience. We believe technology can play a large part in making the process safer and more accessible for new riders” {James Beddows, Founder - RideTo}
About RideTo
RideTo is making it safer and easier to experience the joy of riding a motorcycle. We’re the UK’s fastest growing platform for new riders to find the best training, bikes and gear supported with expert advice.
Add a comment: