Pedal Anywhere

THE PROBLEM
Traveling with your bicycle can be prohibitively expensive – requiring technical assembly knowledge – so most travelers leave their bikes at home.

Pedal Anywhere believes that North America lacks a single recognizable bike rental brand, with bike rental limited to either one-size-fits-all public bike-share programs or local shops with varying hours, pricing, and availability.

The company believes that getting a rental bike should be as easy as hailing an Uber, but it hasn't seen the bike rental market respond with the on-demand products that it believes consumers increasingly expect.

THE SOLUTION
Pedal Anywhere solves these problems by providing high quality bikes that are fully customizable for a rider’s desired accessories, size, and style.

By delivering them on demand and operating 7 days per week, it removes the traditional pain points that travelers experience when trying to locate an adequate rental shop in an unfamiliar city.

STATS
* Total Revenue Since Launch: $196,000
* Total Customers Since Launch: 2,350
* 55% Y/Y income growth
* Targeting expansion to three new cities by 2018

PRODUCT & SERVICE
The company offers city hybrids, aluminum road bikes, and steel touring bikes for rent.

Customers get quality bikes and components with easily serviceable parts in the case of breakdowns.

All reservations are made online through its web app. Once submitted, orders are prepped to the customer’s specifications, then dispatched to delivery staff.

It delivers and picks up bikes via its proprietary bike-hauling bike trailer, enabling each delivery driver to carry 3 customer orders simultaneously with zero fuel cost. Payment is made via Square upon successful delivery.

The mission of its business model is to harness economies of scale to earn 10x in revenue per year over the capital cost of each bike. Its goal is to utilize periodic resale of the bikes to obtain profitable capital replacement, so that once each city’s fleet is at scale, ongoing capital inputs are effectively free and the product is always new.

Rental rates range from $39-$449.

Team Background

Zach Shaner - CEO & Co-Founder

Zach is an economist and journalist by training, and worked on bicycle and transit advocacy for 6 years prior to heading Pedal Anywhere.

His strong vision for the product and his extensive experiences with governments and bicycle nonprofits will be leveraged heavily in the future to form meaningful partnerships.

He earned an undergraduate degree in History and Philosophy from Abilene Christian University, a Masters Degree in Ecological Economics and Sustainability from University of Leeds, and a Master of Theological Studies in Philosophy, Theology, and Ethics from Boston University.

Lucas Nivon - Co-Founder

Co-Founder Lucas Nivon noticed a large gap in the long-term bike rental market in 2012, leading him to found Seattle Monthly Bike Rental out of his garage with a handful of bikes.

Lucas remains an advisor while running Cyrus Biotechnology full time.

He earned a degree in Biochemistry from Harvard University, and a PhD in Biophysics, also from Harvard.

Co-Investors