Custom bicycles at affordable prices. We assemble and ship unique bikes designed online by unique customers. Bikes transform cities and improve people’s daily lives. Our market-proven approach is transforming the mature bike market by offering more options at a lower cost and with fewer clicks than anyone else.
The problem this product solves
How the product solves it
- Pick a model
- Customize it with colours and accessories
- Check out
- New Triana:28 inch low bar city bicycle, Shimano gear 6-speed.
- Milano: 28 inch high bar city bicycle, Sturmey Archer gear hub 3-speed.
- SoHo: 28 inch high bar bicycle, single speed and fixie gear.
- Triana: 26 inch low bar city bicycle, Shimano gear 6-speed.
- Milan: 26 inch high bar city bicycle, Shimano gear 6-speed.
Product use cases
- Custom bike manufactures. Three direct competitors offer bikes that can be customized via an online platform. All of them have launched their business after us and are focused in only one model of bicycle. We offer five models.
- Non-custom bike manufactures. Most manufacturers produce large runs to reduce COGS but are not able to customize bicycles. Those that do not produce large runs, produce specialized bikes.
Unique differentiator from competitors
- Technology. Arguably the best online design platform.
- Lean operation and fixed cost structure.
- Financial agreements in place.
- Outsourced supply chain.
- Based in Spain, low human capital costs
- Backed by Anima Ventures on development, marketing and admin.
Company revenue streams
- Custom bicycles B2C: Wobybi sells, assembles and ships custom bikes to end users.
- Accessories and components B2C: Wobybi sells and ships bicycle components and accesories to final users.
- Custom bicycles B2B: Wobybi designs and supplies Wobybi bicycle fleets by means of individualized proposals to business clients.
- Online: via an online platform in which the customer can design his own bike in an interactive virtual designer. We also offer accessories and components.
- Offline: we have an exclusive network of workshops across the country. Dealers offer the end user all the products of our online shop including custom bicycles. End users design, with the workshop support, their bikes on site. Wobybi delivers the customized bicycles to Workshops, who serve them to the end user.
- Doubled turnover
- Reached break-even during November 2015
- Improved the net margin from negative figures up to a 22%
- Reduce the structure of fixed expenditures from fixed costs to variables
- Secured deal with a shipping agent to ship around Europe for 15-20 euros/bike.
- Secured deal with CaixaBank to finance stock and sales during 2016 via confirming
Next key objectives
- Close a fundraising round of €200.000.
- International Expansion. We will start marketing campaigns in our 6 target countries.
- Outsource the storage and assembly of our bicycles, components and accessories.
- Consolidate its presence in Spain and Europe.
- Reach €5,000,000 in revenue.
- Seed investment from the founders.
- ENISA (National Innovation Company, Spain).
- Anima Ventures: company builder.
- BBVA and CaixaBank
- The best business Idea of 2015 by Actualidad Económica, the first financial magazine in Spain.
- Top 10 start-up, Pernord Ricard Entrepreneurship School.
- Finalist for the Concilia Award in 2014 by Fundación Máshumano.
- Member of the BizSpark program for innovative start-ups by Microsoft
Use of Funds
- All funds will be invested towards growth by means of new customer acquisition in Europe and Spain. During the past 24 months we have improved and optimized the customer acquisition process in the Spanish market, reaching break-even by November 2015, and are ready to expand our business accross Europe.
- We aim to secure a 5% market share in the target countries by 2020 (€5M+ revenue, €1.1M EBIT). Your invest