Buycycle

Buycycle operates as a specialized online marketplace focused on the resale of premium, pre-owned bicycles. The company was founded in Munich, Germany, in 2021 by Theodor Golditchuk, Florian Senoner, and Jonas Jäger. The founders, friends who met through their shared passion for cycling, were motivated by personal frustrations with the existing second-hand market, citing a lack of security, transparency, and logistical support when trying to acquire affordable, high-quality bikes. One of the founders, Jonas Jäger, has a background in mechanical engineering and previously worked as a management consultant, now serving as CTO. Florian Senoner studied environmental management and applies this expertise to ensure sustainable processes at the company, where he handles finance and operations. CEO Theodor Golditchuk also studied mechanical engineering and worked as a management consultant, now focusing on marketing and sales.

The business addresses key friction points for both buyers and sellers in the consumer-to-consumer market. For sellers, Buycycle simplifies the process by providing standardized advertisement formats, managing communication, and handling logistics. This includes sending sellers proprietary packaging materials and arranging for the packaged bike to be picked up, which removes a significant barrier to shipping. For buyers, the platform provides a secure transaction environment with features like buyer protection, insured shipping, and a database of bike models from the last 20 years to ensure listings are detailed and accurate. The company's business model is primarily commission-based, earning revenue from successful sales facilitated through the platform. It also offers additional paid services such as professional inspections and premium listing upgrades.

Initially focused on the European market, Buycycle has experienced rapid growth, expanding its operations to over 30 countries, including a significant launch into the United States in 2023. This expansion was fueled by strong organic demand observed from the U.S. The platform lists a wide variety of bicycles, including road, gravel, and mountain bikes, and has recently expanded to include components and accessories. The company has successfully raised a total of $24.8 million over two funding rounds, including a €3 million seed round in July 2023 and a $21.6 million Series A round in February 2024, with investors like Cherry Ventures and Blossom Capital. This capital is intended to support its global expansion and broaden its focus beyond premium performance bikes into additional categories.

Keywords: pre-owned bicycles, online marketplace, cycling e-commerce, bike resale, commission-based model, circular economy, peer-to-peer marketplace, venture capital, sports equipment, international shipping