Toulouse: how the Thirtyone company, manufacturer of electric bikes, has succeeded in crowdfunding<

It's a real success.In two months, the Thirtyone company which manufactures electric bikes near Toulouse has raised more than 200,000 euros in funds thanks to crowdfunding.Committed individuals, who in turn become bankers to ensure the success of the company.

Christophe Baeza, founder of the Thirtyone company is a "happy" business manager.The launch of the crowdfunding campaign called "Love Money" is a real success.To finance the production of electric bikes, the company needs working funds.It offers its customers to become a banker through a crowdfunding campaign.With the desire to invest in a more responsible economy, company customers become bankers of the company.A citizen investment in tune with the times, with an ecological and civic dimension.

"It's madness", explains the founder of the company "there is a real craze.In two months we raised 200,000 euros in funds when the sums did not exceed 100,000 euros per year, we have never seen that! ".

Since 2013, the company based in Villeneuve-de-Rivière near Toulouse in Haute-Garonne, designs and manufactures electric bikes that are recharged at deceleration.The activity literally exploded during the health crisis, sales have been multiplied by two and will triple or even quadruple by the end of the year.The demand is strong and to finance strong growth production, the company uses individuals and offers its customers "to become a banker of Thirty One".

"Love Money", customers also become bankers

Former insurer, Christophe Baeza plated everything to live from his passion, the bicycle.In 2013, he founded Thirtyone, a bet on the electric bike.A few months later he became the first supplier of the electric velib set up in Vannes."When we started we did not even have a garage," he confided in our France 3 teams in 2015, the year or "Le Petit Poucet who wanted to become big", had participated in the Best of France in NewYork, which brings together the cream of the cream of made in France.Recently, the American magazine "Brain" describes it as "haute couture" of French electric bike.

Thinking about Doing A Spot to #Diy Over the Christmas Break?Take A Read of Our ‘How To Paint Skirting Boards’ for… https: // t.CO/STXS6BAJZD

— E & S W Knowles & Company Limited Thu Dec 19 08:20:03 +0000 2019

"This crowdfunding economic model was set up in 2017, we raised 100,000 euros per year on average but since the health crisis our sales are soaring and to ensure production we need funding," explains Christophe Baeza."To anticipate the increase in production and finance it we use the Love Money", a crowdfunding campaign that allows you to have a working background.A way of ensuring the sustainability of the economic development of society.But why, when orders are there, 500 to 1000 bikes to be made in a year, calling on its customers rather than a banker?

This economic model allows the company to be reactive on the market."To meet the demand we must also store a maximum of parts that will be used for manufacturing, because everything is assembled in our workshops in Villeneuve-de-Rivière.And to have stock you must have financial means ".

Financing and 8% interest rate

Bike is on the rise, this mode of travel is increasingly used by the French and sales of electric bikes fly away."It is true there is a change in mentalities, people move more by bike, there is an ecological but civic awareness too, hence the interest for individuals to support more companies like ours", Specifies the founder of Thirtyone."They know for whom and why they invest, they can put a face on their funding".

Crowdfunding seems to be a more interesting investment than a savings booklet.The minimum investment threshold is 1000 euros.The money will be used to buy parts necessary for the manufacture of bikes.This amount is calculated on 60 monthly payments, the interest rate is 8% fixed per year over five years."It's like a mortgage, every month we reimburse an invested capital part and another part in interest," explains Christophe Baeza.

Growth and recruitment

The risk still exists, specifies Christophe Baeza, "a risk to be measured in the event of compulsory liquidation of the company.In other cases, this remains a claim, the lender has the assurance of being reimbursed.But for the moment we are not at all in this niche, since society has been going to have been going on a growth wave since the start of the health crisis and creates employment ".

The company does not have a store, sales are carried out live only via the Internet.Currently the company employs 5 employees and to deal with the request it seeks to recruit 15 people, in particular sales assistants.

This year, 1,000 bikes are expected to get out of the company's workshops south of Toulouse in Villeneuve-de-Rivière.Thanks to crowdfunding, the company can order the parts that will be used for the manufacture of these electric bikes.