Brussels-based startup Cowboy has surpassed its €1.4 million crowdfunding campaign target in just 12 minutes, raising a total of €3.2 million.
Its 47,500 community of registered users and private investors were invited to invest, attaining further support from existing investor Index Ventures. The crowdfunding campaign is now open to the public, meaning from today until 10th January 2020 individuals have the opportunity to invest as little as €20 in Cowboy.
Cowboy was founded in January 2017 by Adrien Roose, Karim Slaoui and Tanguy Goretti with the mission of transforming urban mobility by making lightweight and user-friendly e-bikes.
Adrien Roose, Cowboy’s CEO, said: “2020 will see huge growth for the e-bike market as many commuters and urban residents realise that they no longer want to sit in traffic for hours, get stuck on public transport or add to carbon emissions. Cowboy offers an ideal solution for easy urban mobility, an intuitive ride, the latest in technology, sleek design and practical elements such as a removable battery and anti-theft features.”
Luke Lang, co-founder and CMO, Crowdcube, added: “Cowboy’s roaring success with its private raise, shows its community is already fired up to back its vision of eco-travel and stunning design. Crowdcube looks forward to enabling supporters around Europe and globally over the next 30 days to champion Cowboy’s mission to scale.”
Last year, Cowboy closed €10 million in Series A financing. The round, led by Tiger Global Management alongside Index Ventures and Hardware Club, was set to help the company scale operations and expand into new European markets including the UK, Germany, the Netherlands and France.