Wattbike secures new debt financing to support growth strategy
October 12, 2023
Nottingham, 12 October 2023 /ENDURANCE SPORTSWIRE/ – Wattbike, the market-leading training and fitness platform focused on indoor cycling, has secured third party debt funding to help finance its international expansion strategy, launch an exciting new product and propel its unique digital offering.
The business, renowned for its high-quality products, has an unrivalled track record in performance and health improvement, with a customer base that includes more than 500 Olympic medallists, elite athletes, Premier League, NFL and NHL teams. It has been the training bike of choice for 12 Champions League-winning football teams.
Earlier this year Wattbike hired Stephen Loftus (previously Chief Commercial Officer at Brompton where he helped quadruple the size of the business) as CEO and sports market veteran Greg Nieuwenhuys as chairman.
With the new debt funding and backing of Piper, which originally invested in the business in 2020, Wattbike’s leadership team is in a strong position to unlock a series of strategic growth opportunities to support the brand’s next phase of growth.
Stephen Loftus, CEO of Wattbike, said: ‘We are delighted to secure new debt financing to support the acceleration of our growth strategy. We have a very exciting new product pipeline and a team with the experience and vision to turn Wattbike into one of the world’s leading training platforms.’
AlixPartners UK acted as financial advisor to Wattbike and Piper in connection with the financing.
For more information, please contact: George Thwaites at Clearwood Media: Email: email@example.com Phone: +44 (0)7884 117534
Wattbike was born more than 20 years ago with one goal: to create the ultimate indoor training bike. No other indoor trainer measures every pedal stroke and revolution so precisely, giving instant insights to get the most from every workout. Expertly crafted and designed in the UK, Wattbikes are tough enough to withstand the intense training of elite athletes, while beautiful enough to sit in the homes of everyday athletes too. They are chosen by the world’s top sporting teams and fitness enthusiasts worldwide.