Vroomen and Wiertz Raise 550,000 euros by Crowdfunding
AMSTERDAM, the Netherlands – Gerard Vroomen and his business partner René Wiertz (both known for their 3T involvement) raised €550,000 via crowdfunding for their latest project, Just Ride. The company, owned by Vroomen and Wiertz, initiated the crowdfunding campaign for the production start of innovative triathlon bikes.
Just Ride’s design team is headed by Gerard Vroomen. “The bike, tailored to the specific needs of triathletes. has been developed by a team of top designers and engineers.”
Sales and marketing of bike will be handled by Just Ride’s two subsidiaries, the Italian brand 3T and THM, manufacturer of lightweight components.
Molds for triathlon bike
The total investment necessary to start the production of the triathlon bike, excluding the R&D costs which were already paid by Just Ride, amounts €640,000 of which €90,000 was financed from own available funds. The remaining €550,000 was raised within 5 hours after the start of the crowdfunding campaign. The amount has been labelled for the acquisition of the molds as well as testing the design and aerodynamics.
Dun & Bradstreet labeled Just Ride BV as a low risk investment. The overall Collin Credit Score is good. The debtors for the financing are Just Ride BV and the two personal holdings Proventus Holding BV and Live Simply BV. Just Ride reports a solvability of more than 80 percent on a total balance sheet of over € 6.5 million.