DTM Legal recently advised on and supported Chester based, Bikmo Limited in securing £1.8 million in funding with the investment lead by Development Bank of Wales alongside specialist global insurer Hiscox and existing and new angel investors.
Alison Brennan, partner at DTM Legal, headed up the team advising Bikmo on this complicated transaction which was completed just after the UK went into lockdown (trying to arrange completion of numerous documents with numerous parties from around the world all in lockdown to some degree or other bringing its own unique complications!). In conjunction with completion of the investment, Helen Nash advised Bikmo on securing a lease of new premises in Wales.
Alison Brennan commented, “It was an absolute pleasure to work alongside Dave and Louise. As a member of our local Tri Club and a keen cyclist myself I understand the importance of specialist insurance covering the bike, rider and others both in day to day cycling and in participation in sportives, races and other events. As a firm we are passionate about encouraging active transport to work and encourage employees to utilise the ‘Cycle to work scheme’ and one positive of the Covid-19 pandemic has been the increase in people cycling. That this is finally receiving some support from Government is an added bonus – it would be fantastic to see cycling at the forefront of our transport systems in the future.”
Louise Towers, Bikmo, commented, “With the trusted support and pragmatic approach of Alison Brennan, partner at DTM Legal we are so pleased to announce we have successfully secured £1.8million investment to support Bikmo’s global growth of our expert cycle insurance business. We were in safe hands with DTM Legal throughout the negotiations which was very much needed during these uncertain and unprecedented times. Alison Brennan is a truly trusted corporate partner that I would recommend without hesitation. Alison worked alongside Helen Nash, property partner at DTM Legal.”