WeSports has acquired a significant stake in Cargobike of Sweden, positioning the company for ambitious expansion into the European market.
Information on the Target
Cargobike of Sweden is a leading manufacturer of electric cargo bikes, primarily based in Malmö. Founded in 2007, Cargobike has established itself as Sweden's oldest cargo bike brand, known for producing family-friendly, safe, and affordable bicycles. In 2023, the company reported a revenue of 116 million SEK and delivered approximately 5,000 units to customers.
With a diverse lineup of 15 different models currently in the market, Cargobike is poised for growth. The company plans to launch additional products in 2024 and 2025, enhancing its offerings to meet the demands of an expanding customer base, which includes private individuals, preschools, property managers, and other entrepreneurs.
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Industry Overview in Sweden
The cargo bike market in Sweden and the broader Nordic region has experienced rapid growth in recent years, driven by increasing consumer interest in eco-friendly transpo
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WeSports
invested in
Cargobike of Sweden
in 2024
in a Strategic Partnership deal
Disclosed details
Revenue: $11M