Wattbike Secures £3.25M Funding Package
- Wattbike, a Nottingham, UK-based exercise equipment manufacturer, raised £3.25M through an asset-based lending facility
- Praetura Commercial Finance provided the financial resources
- The company intends to use the funds to further accelerate growth in the USA, Japan, Australia and Southeast Asia, and invest in its digital offering
- The company is an elite exercise equipment manufacturer whose bikes are used by leading sports teams, athletes and coaches across the UK
- The company has sold over 100,000 bikes, with over 240,000 sessions uploaded per month
- The business has won commercial contracts in the health & wellbeing, education, professional sport, military & uniformed services, medical and hospitality sectors
