Rad Power Bikes Raises $154M in Funding

Rad Power Bikes

Rad Power Bikes, a Seattle, WA-based ebike company, raised $154m in funding.

The round was led by Fidelity Management & Research Company, with investments from funds and accounts advised by T. Rowe Price Associates, Inc., Counterpoint Global (Morgan Stanley), Vulcan Capital, Durable Capital Partners LP, and The Rise Fund, TPG’s multi-sector global impact investing strategy.

The company intends to use the funds to:

  • expand its global efforts to get more people out of cars and onto electric bikes,
  • boost investments in product and technology innovation,
  • accelerate its omni-channel sales and support channels, and
  • diversify manufacturing and supply chains, including investments in North American and European production.

Led by Mike Radenbaugh, CEO and Founder, Rad Power Bikes is an ebike brand with a community of more than 350,000 riders in more than 30 countries and thousands of business customers. The company designs all of its products in-house at its Seattle headquarters and operates international offices in Vancouver, British Columbia, Utrecht, the Netherlands, and has teams in Shanghai, China and Taipei, Taiwan.

Rad Power Bikes has more than 20 Rad Mobile Service locations and 5 Rad Retail Stores and is expanding to serve riders across the U.S., Canada and Europe.