Shifter, a startup specializing in the digitization of bike shops and business management, announces the successful completion of a €1 million fundraising round. The investment, led by BeAngels, Seeder Fund, and the French Public Investment Bank - BPI, marks a major milestone in the company's growth.
Shifter is not just a business management solution but a comprehensive platform that connects bike stores with their suppliers. By streamlining daily operations, including simplifying the supply chain through the integration of multiple suppliers, Shifter enables its clients to gain productivity and efficiency.
Shifter's journey began two years ago, driven by the post-COVID surge in bike sales and repairs. The founders identified a crucial need: to help bike maintenance and sales shops transition from a craft approach to optimal business management. Shifter positions itself as an intuitive and specialized all-in-one platform, providing customized business management software to meet the specific needs of its clients.
This fundraising aims to structure the company for expansion into European markets, with the goal of entering the Spanish and German markets by 2024. The company aims to double sales and equip 1500 bike shops with its innovative software, Shifter.
With a team of 20 people and three co-founders at its helm, Shifter is firmly focused on European expansion. The company plans to expand its presence in Spain and Germany in 2024 while consolidating operations in France, Belgium, Luxembourg, and Switzerland.
This fundraising will also enable Shifter to launch its marketplace, providing bike stores with the opportunity to order directly from a variety of suppliers, thus strengthening its position in the market.
« This fundraising represents a remarkable opportunity to structure and test new markets. We aim to become the go-to platform for all mobility professionals in Europe, whether they are physical merchants, online merchants, bike suppliers, or manufacturers of bikes and spare parts. »Lenny, Shifter of CEO