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Velofix closes financing round with MKB

Published May 17, 2019

MONTRÉAL (BRAIN) — Mobile bike shop operators Velofix has closed a financing round with MacKinnon, Bennett & Company's MKB Partners Fund LP, a growth equity fund focused on the clean energy, transportation, and smart city sectors. The companies are not releasing the dollar amount of the investment.

Velofix said the investment will help it expand in North America, invest in technology and marketing and support growth.

"Our goals and vision for Velofix have not changed and we are more confident today in the future of this disruptive business model. We are very proud to partner with MKB and to accelerate our growth plans to put more mobile shops on the road and to provide more access for consumers to our light mobility services," said Chris Guillemet, the CEO and co-founder of the Velofix Group of Companies.

Antonio Occhionero, a partner at MKB, said, "Like so many industries that have been transformed by direct-to-consumer business models, Velofix will reshape the cycling industry. We are very excited to partner with a talented management team that is capitalizing on an incredible opportunity to scale its innovative light mobility services business."

Velofix, launched in 2013, was featured on CBC's Dragon's Den (Canada's version of Shark Tank), which resulted in Jim Treliving coming on board as an investor. Charles Chang of Lyra Growth Partners has also invested in the company.

Topics associated with this article: Mobile service

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