The Czechs are conquering the world of cycling. A domestic fund invested in BikeFair


Prague, March 3, 2021 - Dutch startup with Czech roots BikeFair brings a platform that gives a second chance to older bicycles whether they are from second-hand or outlet. BikeFair has acquired an investment to help not only fully dominate the Netherlands, but also expand to other Western European markets. Among the main investors is the angel fund Grouport that belongs to financial group DEPO Ventures. Grouport participated in an investment round in which BikeFair was aiming for 500,000 euros.

Jan Pecnik

The whole idea of ​​BikeFair is to create an online marketplace that will be more reliable, safer and fair for both sellers and buyers. "The service guarantees that no bicycle was stolen as each bike goes through the extensive check. Each seller must provide number of the bike frame, which is then checked through the police database and international registers, "explains the founder of the startup Jan Pecník. At the same time, the platform not only uses internal algorithms to checks the credibility and quality of advertisements but also the quality of sale photos. Last but not least, the cashless payment system also contributes to the security of the entire system.

 

 

 

BikeFair's plans do not end with marketplace - the company plans to use the platform to provide service, insurance and related services. The customer can try a bike with the assistance of professionals who are able to help with selection. Company also offers a search function (known from portals such as Airbnb), which will improve the position of local bike shops or bike dealers.

 

The angels from Grouport were fascinated by the founder of BikeFair

I believe that city without cars is the future. A city that has a dense public transportation combined with bikers. The result is efficient and ecological mobility throughout the system. At BikeFair, I see the potential for fulfilling this vision. In addition, I consider Jan Pecník to be the ideal founder. He is intelligent, has a passion for it and is a great narrator with a clear vision," says Grouport partner Michal Ciffra.

 

"We are very happy that Grouport chose us. The investment will help us implement the plan to keep BikeFair in the Netherlands and to expand to other markets in the future. The application is already available in the UK and USA. However, right now we want to fully focus on the Dutch market," adds co-founder and CEO Jan Pecník.

 

 

 

Another topic the startup focuses intensively is sustainability. "Bicycles are vehicles of the future especially in the cities and we want to make sure that everyone has easy access to them. Not everyone knows how to take care of bike or how to repair it. Our goal is to connect people through the local dealers where they can get an access to bicycle information and connect with a local network of experts. Be using BikeFair people can contribute to an economy, support the local market and give bicycles a second chance, which would otherwise be discarded,” says Pecník.

 

In addition, BikeFair cooperates with non-profit organizations such as the Bike Index or the Give a Bike Foundation which collects bike donations  and sends them to Africa.