Santander support shifts Bikmo up a gear
Frustrated with spending hours online searching for bike components, keen cyclist and ex-nuclear engineer David George saw the opportunity to create a platform that would allow enthusiasts like him to get everything in one place. So he set up Bikmo, an online bike marketplace where shoppers can search for components, build their own virtual bike, and interact with other cyclists through a single website.
Turning to the bank for help
David needed funding to help with the design and development of the website and to expand his workforce. He turned to Santander, who provided him with an initial loan of £10,000 and an overdraft facility.
The loan was made available to David within 10 days of him making the application and he waited only 48 hours for his overdraft to be activated.
Riding to growth
Thanks to the initial investment to get Bikmo off the ground, the company has since attracted angel investment to take it to its next stage of development. David now has a team of six full-time employees and the business has a strong projected revenue.
David is ambitious for Bikmo, planning further expansion this year including through providing white-label websites for partner organisations.