UK-based exercise bike manufacturer Wattbike has secured third-party financing to fund its international expansion strategy and launch “an exciting new product,” and expand its digital offering. Founded in 2008, the company says it has a customer base that includes more than 500 Olympic medalists, top athletes, Premier League, NFL and NHL teams. It has been the training bike of choice for 12 Champions League-winning soccer teams.
Earlier this year, Wattbike hired Stephen Loftus (previously chief commercial officer at Brompton) as CEO and sports market veteran Greg Nieuwenhuys as chairman.
With the new debt financing and support from Piper, which originally invested in the company in 2020, Wattbike’s leadership team believes it is in a strong position to pursue a number of strategic growth opportunities and support the brand’s next phase of growth. “We have a very exciting new product pipeline and a team with the experience and vision to turn Wattbike into one of the world’s leading training platforms,” Loftus commented.
