Business Funding Case Study
The Challenge
Vélo Presto is the UAE’s first and only mobile bike servicing company. They offer convenience, reliability, and quality workmanship at competitive pricing.
Vélo Presto was the only bike servicing company in operation during the lockdown as all the bicycle shops were closed. Because of that, they were classed as an ‘essential service,’ and the pandemic positively affected their business. As their mechanics work inside the mobile workshop, they are isolated and, therefore, safe.
During the pandemic the team realised they needed finance to add new mobile workshops and extend the business’s opening hours.
What Beehive did
Beehive offered Business Funding to Vélo Presto to enable the team to purchase new vans for their mobile workshop. Business Funding directly connects businesses with investors willing to support their growth.
The business was fully funded in less than 48 hours, allowing them to move swiftly ahead without long delays getting access to finance.
The result
As an expanding local business, Vélo Presto used the funds to fit out its fourth mobile bike workshop. This ensures that their customers receive first-class bike servicing outside their homes in a fully equipped mobile bike workshop complete with air conditioning and electricity. Their fourth van will be based in Abu Dhabi, allowing them to service their clients there.
– Nicolas Girot and David Hunt, Owners and Founders, Vélo Presto
