You’ve probably seen an electric bike whizzing past while you sit in traffic.
Or perhaps you’ve been on a push bike labouring up a hill when a fresh-faced rider zoomed around you.
There’s no denying eBikes are the next big thing.
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Uptake in Australia has doubled each year since 2017 and there’s ongoing government support and incentives for users. There’s just one big obstacle.
They’re expensive.
A new eBike could set you back thousands and this limits most people from trying one, which is where Jot Bikes come in.
The brainchild of two former product managers from tech giants Uber and Canva, Jot Bikes is an electric bike company that allows riders to rent electric bikes on an affordable and flexible subscription model.
You might want one to commute, to use for courier work or just for fun.
Whatever the reason, the bikes are there and are even backed by theft waivers and supported with ongoing maintenance.
Renting starts at as little as $39 a week and cyclists love them.
“Best ebike service in Australia,” said one happy customer.
“The bikes are great, price is fair and team very helpful and friendly!”
“The bike itself is one hell of a beast. It made climbing so easily and I never run out of juice the whole time. Loved it,” said another.
Jot Bikes currently operates in Sydney and Melbourne and with 5,000 subscribers and over $6,000,000 in revenue in just four years the company has decided now’s the time to expand nationally.
Its founders, Clifton Hodgkinson and Dylan Coyne, are on a mission and it’s one that could involve you.
They’ve launched an equity crowdfunding campaign through Birchal, the largest equity crowdfunding platform in Australia and are hoping that people who are as passionate about eBikes, and the benefits of them, will jump on the journey to expand Jot Bikes throughout Australia with them.
“We want Jot Bikes users to be more than riders; we want them to be stakeholders. Equity crowdfunding allows us to bring our community into the fold,” Hodgkinson, told 7Life.
The funds raised will be used to scale up production, expand the product line and reach a wider audience.
“Our vision is to make electric bikes the go-to mode of urban transportation,” co-founder, Coyne said.
“We believe we can accelerate the shift towards more affordable and accessible electric commuting.”
Investors who believe in the potential of Jot Bikes and want to be part of their journey can visit their crowdfunding campaign page at Birchal here.
Disclaimer: This story contains general information about a product and is not intended as financial advice. Before acting on any investment information that may be included in this article, consider your financial situation and objectives, and seek your own professional advice.