The new partnership between British Cycling and HSBC UK will also see investment in Welsh Cycling for 2017.
The alliance will see participation in both community-based social events, and major organised cycling events at the highest level of performance.
Anne Adams King, chief executive officer at Welsh Cycling, commented: “This is fantastic for cycling in Wales, and the whole of Great Britain. Working closely with HSBC UK and British Cycling, we will be able to offer more opportunities in Wales for people to cycle.”
A representative from HSBC UK, chief executive António Simões, also commented: “We are extremely proud to be working in partnership with British Cycling.
"Successes at the Olympics and Paralympics in both London and Rio have put cycling well and truly on the map and we are looking to help build on that legacy to make a real difference from grass roots cycling all the way up to those representing Great Britain at the very highest level. Our ambition is for this to become a true partnership that benefits every family across Great Britain.”
The partnership will look to continue to develop Welsh Cycling’s offer for all ages in Wales, working closely with Sport Wales and other partners to encourage greater levels of physical activity and deliver the outcomes of the Well-being of Future Generations (Wales) Act.
More information on Welsh Cycling can be found here.