Wattbike, a Nottingham, UK-based exercise equipment manufacturer, raised £3.25M through an asset-based lending facility.
Praetura Commercial Finance provided the financial resources.
The company intends to use the funds to further accelerate growth in the USA, Japan, Australia and Southeast Asia, and invest in its digital offering.
Led by CEO Richard Baker, Wattbike is an elite exercise equipment manufacturer whose bikes are used by leading sports teams, athletes and coaches across the UK. The company has sold over 100,000 bikes, with over 240,000 sessions uploaded per month.
The business has won commercial contracts in the health & wellbeing, education, professional sport, military & uniformed services, medical and hospitality sectors. Contracts have been signed with David Lloyd, the England football team, Hilton Hotels and the British Army. Most recently, Wattbike has become an official supplier to New Zealand’s rugby squad, the All Blacks.
FinSMEs
30/11/2022