Beringea has invested £2.4 million in Cycle Exchange, the UK’s foremost resale platform for premium pre-owned bicycles, to fuel its growth and operational expansion.

Information on the Target

Cycle Exchange, founded by cycling enthusiast Matt Connelley, is the leading resale platform in the UK for premium pre-owned bikes. Frustrated by the lack of reliable options for purchasing high-quality bicycles, Connelley left a successful career in the finance sector to create a platform that prioritizes the buying experience for cyclists. Today, Cycle Exchange offers a meticulously curated selection of refurbished bikes, parts, and accessories, available online and in person at its state-of-the-art facility in South West London, as well as through a growing network of partner outlets.

The company's innovative model combines expert bicycle refurbishment with diverse retail channels, which has attracted a loyal customer base and driven significant growth. This commitment to quality service and products enables Cycle Exchange to maintain profitability while catering to cycling enthusiasts across the country.

Industry Overview in the UK

The UK remains one of the leading markets for cycling globally, with nearly £1 billion spent annually on bikes. Approximately 80% of this expenditure is directed towards high-end bicycles, highlighting the demand for quality in the sector. In recent years, the pre-