MicroVentures Logo MicroVentures Logo MicroVentures Logo MicroVentures Logo, large text MicroVentures Logo mv-icon-reply mv-icon-bubble mv-icon-bin
Previous offering
Next offering


High-end bike concierge platform for guided rides and bike rentals


Raised from 15 investors

Min: $25,000

Max: $107,000

Security Offered

Convertible Note

Minimum Investment: $100

  • Hosted corporate events for brands such as HSBC, IWC Schaffhausen, Lululemon, and Assos

  • Bike rentals increased by 32.64% in 2019 over the same period in 2018 (April to December)

  • Roula generated $131,165 in revenue in 2019, up by 232.84% from $39,408 in 2018

  • Previously raised $530,000 in funding from angel investors

Executive Snapshot

Roula is a high-end bike concierge business offering guided rides, bike rentals, and merchandise to cyclists at its HQ in Manhattan, New York City. For travelling cyclists, it facilitates bike rentals from a network of cycling companies through its partner network with locations in places such as Austin, San Francisco, Los Angeles, Miami, Barcelona, Lanzarote, and Tokyo. From its HQ in Manhattan along the Hudson River, cyclists can enjoy a member’s lounge, terrace overlooking the river, and café. Roula also shares a kitchen service with the property owner, Classic Car Club, from which customers can enjoy a full menu offering every day of the week. Roula’s location makes it an ideal spot to host corporate events and meetups.

Notable achievements by the company include:

  • Hosted corporate events for brands such as HSBC, IWC Schaffhausen, Lululemon, and Assos
  • 12 corporate events hosted over the last two years
  • Previously raised $530,000 in funding in the form of convertible notes
  • Bike rentals increased by 32.64% in 2019 over the same period in 2018 (April to December)
  • Roula generated $131,165 in revenue in 2019, up by 232.84% from $39,408 in 2018


Investment Terms

Security Type: Crowd Note

Round Size: Min: $25,000 Max: $107,000

Discount Rate: 20%

Valuation Cap: $3.2 million

Conversion Provisions: In connection with equity financing of at least $1,000,000, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $3,200,000 valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.



*You are investing in Crowd Notes in this offering. Perks are meant to be a thank you from the company for investing. The perks below, subject to Regulation CF investment limits, are not inclusive of lower dollar amount perks, except where otherwise noted.

  • $1,000 - One Pinarello F12 concierge delivered to hotel or apartment for one day.
  • $5,000 - One Pinarello F12 concierge delivered to hotel or apartment for two days, and two Roula cycle shirts.
  • $10,000 - Two Pinarello F12’s concierge delivered to hotel or apartment for two days, domestique for four-hour ride**, and two Roula cycle shirts.
  • $20,000 - Four Pinarello F12’s concierge delivered to hotel or apartment for two days, domestique for four-hour ride, and four Roula cycle shirts.  

Perks will be honored at Roula’s HQ in New York City.

* When you make a reservation, you’ll have the opportunity to decide the time and place where your bike is to be delivered and picked up. Our onboard fit specialist will make sure your bike is dialed in to your specifications.

** Example of Domestique - at the $10k level, the investor and another participant would each get to use a Pinarello F12 for 2 days, with each day including a ride about 4-hours long that comes with a guide.



Traveling with bicycles can be a frustrating process. Many airlines consider sports items such as golf clubs and skis to be regular checked items, but place surcharges on bikes that can add up to hundreds of dollars each way. One of the reasons is size – bikes can be bulkier than most objects, making storage less efficient. It’s also a solid revenue generating opportunity – some 14 million Americans bike regularly.According to the Atlanta Constitution-Journal, U.S. airlines collected $4.9 billion in baggage revenue in 2018, up from $4.6 billion in 2017.ii Bicycling, an online website, found that traveling with a bike could cost as little as $30 or as much as $300, each way.iii Another issue cyclists can run into is damage to their bike. Through careless handling, airlines can damage bikes, sometimes refusing to accept liability for the damage.iv One method cyclists can use to avoid these problems is renting a bike when traveling. Bike shops that offer rentals can be more cost effective than paying baggage fees to travel with a bike.v

Founded in 2016, Roula is a high-end bike concierge business created to make life easier for traveling cyclists. Founder Mark Voysey thought of the idea several years ago after a bad experience traveling with his bike, in which the airline broke a carbon wheel, and he lacked the mechanical skills needed to fix it. He then discovered his bike case wouldn’t fit in his rental car. Frustrated with the process, Mark decided to create an alternative solution.

Cyclists have the option of renting a high-end road bike for a day, a week, or longer either directly from Roula’s HQ, online, or from one of the many partners within Roula’s network. Roula aims to provide a seamless experience for cyclists by also offering concierge delivery and pick up options, straight to a customer’s hotel or place of residence within New York City. Additionally, Roula offers guided rides, corporate events, and its facility contains a member’s lounge, terrace overlooking the river, and café - where cyclists can network and relax.

 Roula’s headquarters (HQ) is located in the Hudson Yards neighborhood of Manhattan, one of the fast-growing areas of New York City.vi A mixed-use real estate venture is currently in development in the neighborhood, which is one of the largest mixed-use private real estate ventures in American history. The development will sport a 720,000 square foot shopping mall, four skyscrapers, and $500 million city-sponsored arts center called the Shed. Large companies such as SAP, KKR, BlackRock, Wells Fargo, and L’Oréal USA, among others, are moving into office space in the new development.vii



Roula offers guided rides, bike rentals, storage, recovery services, bike wash, memberships, and merchandise to cyclists at its HQ in Manhattan, New York City. It aims to service customers whether they’re living in New York or visiting. For travelling cyclists, it facilitates bike rentals from a network of cycling companies through its partner network with locations in places such as Austin, San Francisco, Los Angeles, Miami, Barcelona, Lanzarote, and Tokyo.

Roula Headquarters

Roula’s HQ is located in Manhattan along the Hudson River in a trendy neighborhood on the West Side Highway Greenway, opposite of Hudson Yards and on the Hudson bike path. Its facility offers a member’s lounge, terrace overlooking the river, and café. At the café, customers can purchase coffee, smoothies, and healthy snacks. Additionally, Roula shares a kitchen service with the property owner, Classic Car Club, from which customers can enjoy a full menu. Roula’s location makes it an ideal spot to host corporate events and meetups.


At Roula’s HQ in Manhattan and online, customers can rent bikes for a day, a week, or a longer period of time. In addition to being able to pick up the rental bikes at Roula’s store, customers can also choose to get the bikes delivered to them via a concierge service to their hotel or place of residence (within New York City). Roula focuses on providing high-end road bikes as well as an iconic Brompton model. The bikes currently available for rent include:

Pinarello F12


Pinarello Grevil


Pinarello Dyodo


Pinarello Dogma F10


Brompton Raw Laquer M3L


Duetti S1 Sram eTap


Roula also facilitates rentals through its partner network with locations in cities such as Austin, San Francisco, Los Angeles, Miami, Barcelona, Lanzarote, and Tokyo.

Roula Tours

Roula offers partnerships for custom package cycle tour vacations in Tokyo, Spain, Portugal, Italy, and Mallorca.


Domestiques, or guided rides, are public and private tours led by Roula’s experienced cycling staff. Roula has weekly domestiques around New York City open to both individuals and groups. An example week of rides for Roula is as follows:

  • Tuesday: Prospect Park Loopza! 15-20 miles in Prospect Park. Depart at 6:30am.
  • Wednesday: Ride from the Roula shop to River Road and then on to Rangers Station, approximately 35-40 miles. Depart at 7:00am. (For intermediate to advanced riders).
  • Friday: Roula / Soho House to Rangers Station, approximately 35-40 miles. Depart at 6:45am or 7:00am. (For intermediate to advanced riders).
  • Sunday: Roula Ride to The Market Café. Approximately 45 miles. Depart from Brooklyn Bridge at 7:00am. (For intermediate to advanced riders).

In addition to offering rides on a weekly basis to individuals and groups, Roula also offers privately guided rides upon request. Popular private rides include:

  • Central Park: 2-hour ride or 15-20 miles – a local favorite. Cruise around this iconic park.
  • River Road: 3 - 3.5-hour ride or 35 miles – Beautiful terrain along the Hudson River with little traffic just across the George Washington Bridge.
  • Piermont / Nyack: 4.5 - 5-hour ride or 50-70 miles – Enjoy the scenic roads outside of NYC and New Jersey. This ride includes a refueling stop at a delicious café.
  • Bear Mountain day trip – Can be customized based on the number of participants and desired length

All guided rides include a Pinarello or Serotta Design Studio Duetti bike, helmet, a Roula water bottle, carbon road pedals, and healthy snacks.


Roula offers a monthly membership which provides patrons with deals, discounts, and access to exclusive events. Some of the perks included in the membership include:

  • Early access to private events
  • Access to exclusive rides
  • A Roula t-shirt and pair of socks
  • Complimentary coffee at its Manhattan store
  • Complimentary monthly bike wash for members in New York City
  • Exclusive access to the private members lounge, restaurant, and waterside terrace every Wednesday
  • Regular newsletters
  • 20% off Roula cycling apparel
  • Exclusive partner promotions
  • Recovery services from Normatec and Theragun
  • One complimentary bike rental per year (4-month contract minimum)
  • 10% off bike rentals at its Manhattan location as well as in its partner network nationwide


Roula’s HQ in Manhattan can be rented out for corporate and charity events. Its facility can hold up to 150 guests. Events include guided bike rides (for varying skill levels) and all necessary equipment for the rides. Following the guided rides, guests can network and socialize on Roula’s terrace overlooking the Hudson River and in the member’s lounge. Add-on services event sponsors can purchase include a breakfast buffet, coffee and snacks during the ride, a lunch buffet, recovery services such as Normatec, Theragun, mobile cryotherapy, and space to put up product showcases and stands. Roula will facilitate any required catering services.

An example of a corporate event Roula has hosted in the past is as follows:

8:00am: Arrive at Roula, breakfast buffet (pastries, bagels, acai parfait and fresh fruit, coffee, juice, and soft drinks), and prepare for the rides

9:00am: Slow pace group depart

9:20am: Medium pace group depart

9:40am: Fast pace group depart

11:00am: Stop at The Market Café for coffee and snacks

1:30pm – 2:30pm: Return to Roula HQ

2:30pm: Lunch buffet (sandwiches, wraps, salads, grains, fresh fruit, coffee, tea, juice, and soft drinks)

3:00pm: Event sponsor comments and remarks

3:30pm: Drinks and socialize in member’s bar and on terrace

6:00pm: Event ends


In Roula’s HQ and online, customers can purchase of variety of Roula-branded merchandise. Items available for purchase include:

Roula & Castelli Gilet


Roula Socks


Roula Cap


Roula T-Shirt


Roula Water Bottle


Roula & BOCO Trucker Hat


Roula Jersey


Roula Cycling Bib


Roula Gift Card


Ancillary Services

Roula also offers ancillary services for cyclists such as bike storage, bike washes, pedal upgrades, bike maintenance, bike fitting, and concierge deliveries on rental bikes. Its concierge deliveries are specifically targeted at traveling cyclists who are looking for convenience. Customers can choose to have either their rental road bike dropped off and picked up from their hotel, or have one of Roula’s Brompton (fold-up) bikes dropped off at their hotel upon on arrival so that they can enjoy their bicycle throughout their stay and make their own way to Roula HQ.

Use of Proceeds

Roula is looking to raise a minimum of $25,000 and a maximum of $107,000 from this crowdfunding raise. This raise is part of a larger effort by Roula to raise $500,000 this year. Funds will be used to support continued growth and deployed for staff wages, rent, marketing, and technology development. If the minimum amount is raised, Roula plans to allocate $10,000 toward staff costs (40%), $7,000 toward rent (28%), $5,000 toward marketing (20%), and $3,000 toward technology development (12%).

If the maximum amount is raised, Roula plans to allocate $40,000 (37.38%) toward staff costs, $30,000 (28.04%) toward rent, $25,000 (23.36%) toward marketing, and $12,000 (11.21%) toward technology development. Roula has the discretion to change the use of proceeds due to a change in business conditions or the economic environment.


With a portion of the funds from this raise, Roula plans to re-introduce salaries and wages for existing employees to maintain its current employee base, and hire part-time employees to work in either the mechanic shop to repair bicycles, or in the store front to sell merchandise.


With a portion of the funds from this raise, Roula plans to increase its marketing efforts in 2020 to expand its reach and bring in new customers. Several avenues of marketing the company plans on utilizing include:

  • Search engine optimization (SEO)
  • Social media
  • Corporate events
  • Public relations
  • Partnerships

Through building new partnerships, Roula intends to expand upon its existing network of hotels who will offer Roula’s services to guests.

Tech Development

With a portion of the funds from this raise, Roula plans to improve and further develop its website to make it more user-friendly, and to continue work on building an app. The Roula app would enable customers to rent bikes and book domestiques directly.

Product Roadmap

Over the coming year, Roula plans to roll out an episodic insurance product, expand its partner network, and further develop its website. Additionally, it plans to increase its focus on hosting corporate and special events. Beyond 2020, the company is planning to release a mobile app and expand its physical presence to new locations.

Episodic insurance

In 2020, Roula would like to offer episodic insurance to customers renting bikes and cyclists on guided tours. Episodic insurance would cover damages to bikes. Pricing is still being determined for this feature.

Expand Partner Network

In 2020, Roula would also like to expand its partner network to more cities around the world. New cities where Roula would like to add partners include: Nice, Melbourne, Milan, San Diego, Dallas, Boston, Chicago, and Atlanta.

Mobile App

Roula is currently developing a mobile app that it plans to release sometime around 2021. The app would allow users to sign up for Roula, book rentals or guided rides, and manage their bookings. Roula plans to release the app for both iOS and Android.


Within the next few years, Roula would like to set up more physical locations in biking hubs across the U.S. and around the globe. Locations Roula is currently considering for expansion include: Los Angeles or San Francisco, Miami, and London.

Business Model

Roula generates revenue from bike rentals, domestiques (i.e. guided rides), concierge delivery services, and ancillary services.

Pricing for Roula services is as follows:


Pricing for popular private guided rides is as follows:

  • Central Park: $275 (2 hours)
  • River Road: $350 (3 – 3.5 hours)
  • Piermont / Nyack: $450 (4.5 – 5 hours)

Guided rides include a Pinarello or Serotta bike, helmet, water bottle, snack, and carbon road pedals.

Bike rentals from New York HQ

At Roula’s headquarters, the company offers six different bicycle models for rent, the Pinarello F12, the Pinarello Grevil, the Pinarello Dyodo, the Pinarello Dogma F10, the Brompton Raw Laquer M3L, and the Duetti S1 Sram Red eTap.

Pinarello F12

$170 per day / $750 per week


Pinarello Grevil

$150 per day / $600 per week


Pinarello Dyodo

$160 per day / $640 per week


Pinarello Dogma F10

$160 per day / $640 per week


Brompton Raw Laquer M3L

$65 per day / $350 per week


Duetti S1 Sram Red eTap

$140 per day / $560 per week


Customers can also rent bicycles from Roula’s partners across the U.S. Roula receives a 20% commission on rentals through its partner network.

Special Events

Pricing for special events ranges from $2,000 per day to $50,000 per day depending on the scope of the event. Events can include a light breakfast, lunch, a domestique, snacks, coffee, and access to Roula’s terrace, where guests can socialize and network. Bikes are included in special events as required.

User Traction

Between May 2018 and December 2019, Roula rented its bikes out 359 times. In 2019, the company rented out 215 bikes. Between May and December 2019, the company rented out 191 bikes, up from 144 bikes over the same period 2018, representing a 32.64% increase. Its rental business has been seasonal, with bike rentals experiencing a decline during the winter months and steady rental rates in across the spring, summer, and fall months.

In 2019, Roula hosted seven events, up from five events in 2018. Notable events hosted by Roula in 2019 included:

  • HSBC Ride: A summer event for HSBC where riders completed a 42-mile round trip across the George Washington Bridge and along River Road, New Jersey. In the afternoon guests returned to enjoy an energy-fueled late lunch and salad spread followed by celebratory drinks on the private member’s terrace. Roula even laid on a unique stone carving service on River Road as a mark of the event that can still be seen to this day.

  • IWC Schaffhausen, Fabian Cancellara, The Laureus Foundation, Mercedes AMG, BMC, and NTSQ: An 82 strong rider field met at Roula’s HQ for a fuel-based breakfast and quality espresso to power them into their morning miles. Riders started in one of four corals on a 45-mile round trip to The Market Café at the New York - New Jersey state line for a refreshment stop. The groups returned to Roula for a lunch with congratulatory remarks from IWC President North America, Darin Rabb and Olympic Gold medalist Ed Moses who talked to the Laureus foundation partnership. Then followed a Q&A with Fabian Cancellara, where the Olympic champion shared insights on his past career, most memorable wins, the development of Chasing Cancellara platform, and other motivational points for the captivated riding audience. The day was rounded out with custom cocktails: The Paris Roubaix (Sidecar) and Milano-San Remo (Aperol Spritz), enjoyed as the sun set on the private member’s terrace.

One notable event held by Roula in 2018 was the Lululemon and Strava “Ghost Run.” Participants enjoyed a coached run on the west side bike path, recovery from Normatec and Theragun, and Bespoke Physical Therapy, food from Spring Bone, and a Marathon Q&A from Lindsay Meyers, all while enjoying the Hudson River view from Roula’s HQ. The Ghost Run was monitored on Strava, a popular social network for runners and cyclists.

Historical Financials


In 2019, Roula generated $131,165 in revenue for the year, up by 232.84% year-over-year. Revenue in 2019 was primarily generated as a result of bike rental income (47.26%) and hosting special events (42.74%). All three main categories of revenue (bike rentals, special events, and merchandise) grew by at least 139% between 2018 and 2019. Revenue spiked in Q2 and Q3 2019 due to several special events that took place over the two quarters. 2018 was Roula’s first year of generating revenue. In 2018, the company generated $39,408 in revenue for the year. Revenue in 2018 was driven primarily by bike rentals (57.36%), special events (28.71%), and merchandise (13.92%).


In 2019, Roula incurred $146,123 in total expenses for the year, a decrease of 70.90% year-over-year. Expenses decreased in 2019 when compared to 2018, in part, due to a large reduction in salaries and wage expenses and a large reduction in rent expense. Between 2018 and 2019, salary and wage related expenses decreased from $189,613 to $28,588, representing an 84.92% decrease. The company reduced its salary and wage related expenses in 2019 to keep the company cash flow positive until they could raise more capital.  Between 2018 and 2019, rent expense decreased from $60,400 to $9,700, representing an 83.94% decrease. The company was able to talk with their landlord to receive a discount in 2019 and then plans to begin paying approximately $3,000 per month once they’ve received additional funding. In 2018, Roula incurred $502,190 in total expenses for the year, an increase of 709.98% when compared to 2017. The large increase was, in part, due to the company only truly beginning business operations in Q3 2017, and due to the company ramping up business functions in 2018 as it looked to grow and expand. In 2017, the company incurred $62,000 in total expenses for the year.

The largest expense line items in 2019 were salary and wages (19.56%), office expenses (11.32%), cost of goods sold (11.80%), insurance expense (8.50%), and rent expense (6.64%). In 2018, the largest expense line items were salaries and wages (37.76%), rent (12.03%), design expenses (9.01%), insurance expenses (7.33%), and cost of goods sold (2.77%).

Net Income

In 2019, Roula generated a net loss of $14,958, compared to a net loss of $462,782 in 2018. However, Roula was able to generate a net operating profit in 2019 due to a substantial increase in revenue, and a large reduction in wage expenses. Moving forward, the company is expecting to re-introduce some expenses (e.g. wages) which could affect its cash flow. However, it hopes to dampen the effects of the increase in expenses through continued revenue growth. In 2017, the company incurred a net loss of $62,000.

Cash Flow

As of January 31, 2020, Roula had $3,870 in cash-on-hand. With the current cash-on-hand, the proceeds from this raise, and an increase in planned operating expenses, the company anticipates having approximately 12 months of runway if the maximum amount ($107,000) is raised, and five to six months of runway if the minimum amount ($25,000) is raised.


Micro-mobility is a growing trend in urban areas, with consumers enjoying the freedom and quickness of these solutions. McKinsey and Company estimated that by 2030, the micro-mobility market would be worth $200 to $300 billion in the U.S., $100 to $150 billion in Europe, and $30 to $50 billion in China. The report estimates that for this market growth to occur, cities and businesses need to work in concert to create viable solutions. Examples of these solutions could be making the interchange between micro-mobility and public transport smoother or banning cars from congested and polluted areas.viii

Within the micro-mobility market is bike rentals. As of 2017, the global bike rental market was valued at $1.37 billion. Between 2017 and 2025, the market is expected to grow at a compound annual growth rate (CAGR) of 14.3%, reaching approximately $4.28 billion in 2025. One factor driving the growth in bicycle rentals is the increasing importance of greener transportation systems as a result of eco-friendly policies being implemented across cities and countries. Within the bike rental market, docked bike rental services have dominated the market so far, with 77% of the total market share. Docked bike rental services are less exposed to vandalism and theft compared to dockless services.ix

In 2019, USA Cycling, the national governing body for bicycle racing in the U.S., recorded soaring participation numbers at its national event. It hosted more than 1,600 riders, up by 32% year-over-year. Growing interest in the national event points to a bright future for the sport of cycling in America. The growth in riders at the U.S. Nationals was driven almost entirely by junior participation, with both the junior boys and junior girls’ categories experiencing an uptick in participation.x According to the National Interscholastic Cycling Association (NICA), participation in cycling by kids in middle school and high school has experienced an average annual growth of 48% between 2009 and 2018.xi 

In addition to becoming more popular with youth, cycling is also seeing an increase in popularity among professionals. According to the New York Times, cycling is the sport of choice for workers in the San Francisco Bay Area within the region’s tech community. Venture capitalists, recruiters, and professional networkers have introduced cycling events as a way to build camaraderie, socialize, and strike deals.xii According to the Wall Street Journal, cycling has also become more popular among business professionals in English cities such as London, Exeter, and Bristol. Professionals there view cycling as a good way to meet potential clients.xiii Some of the reasons cycling has become more popular in the business professional demographic is because is more accessible than other sports like golf, open to all skill-levels, and riders can choose whichever distance (or time) they are comfortable with.xiv

Beyond the U.S., cycling has also experienced strong growth and increasing government focus in Europe. In May 2019, over 100 business and policy leaders from across Europe attended a cycling industry conference to discuss the growth of the cycling industry and strategies ensure further growth. The European Commission considers cycling as key to sustainable mobility solutions and has allocated a budget of around €2 billion to the industry.xv According to the European Cyclists’ Federation (ECF), the value of the bicycle market in Europe was estimated at €13.2 billion in 2016, and is expected to grow at an annual rate of 5.5% through 2022.xvi

Roula’s HQ is located in the Hudson Yards area of Manhattan, a neighborhood recently cited as growing five times faster than the rest of Manhattan. Businesses are starting to recognize Hudson Yards as of one of the most appealing places to be in New York City due to the variety of experiences on offer there and a younger demographic.xvii A mixed-use real estate venture is currently in development in the area, which is one of the largest mixed-use private real estate ventures in American history. Hudson Yards will sport a 720,000 square foot shopping mall, four skyscrapers, and $500 million city-sponsored arts center called the Shed. Large companies such as SAP, KKR, BlackRock, Wells Fargo, and L’Oréal USA, among others, are moving into office space in the new development.xviii

According to Pitchbook, the micro-mobility industry received $13.03 billion in capital investment in 2019, down by 46.37% year-over-year from $24.31 billion. Over the same period, the total deal count in the micro-mobility industry fell from 114 to 98. 2018 was a record year for both capital invested and deal count in the micro-mobility industry. Between 2009 and 2019, capital invested in the industry grew at a CAGR of 19.84%. Other notable industry statistics include:

  • In 2019, the median pre-money valuation in the industry was $100 million, down from $175 million in 2018. The highest median pre-money valuation was $370.26 million in 2014.
  • In 2019, the median post-money valuation was $143 million, down from $260 million in 2018. The highest post-money valuation was $1.38 billion in 2015.
  • In 2019, the median deal size was $4.6 million, down from $11.6 million in 2018. 2018 had highest median deal size between 2009 and 2019.
  • The most active region for deals in the micro-mobility industry was Europe, with 74 companies receiving funding between 2009 and 2019.

Source: Pitchbook


Roula competes directly with other bike rental facilities in the greater New York City area. As it looks to expand, it will compete with other local bike rental facilities in its new areas of expansion.

Bicycle Habitat

Founded in 1978, Bicycle Habitat sells bicycles of varying categories, performs bike services, hosts classes, and offers rental services. At the Bicycle Habitat store, consumers can purchase road bikes, mountain bikes, city bikes, kid bikes, folding bikes, and accessories. Some of the higher-end road bike brands sold by the company include S-Works, Venge, Emonda, Roubaix, and Domane. Additionally, the company offers bicycle services such as bike repair and home delivery. Every Wednesday and Thursday the company hosts two-hour roadside bike repair courses. Consumers looking to rent bikes rather than purchase can rent from several of the Bicycle Habitat stores. Hybrid bike rentals, for casual riding, start at $35 per day. Road bike rentals for more recreational riding start at $100 per day. Carbon road bike rentals for long distances and road races start at $200 per day.xix

Echelon Cycles NYC

Founded in 2009, Echelon Cycles is a bike shop in New York City selling a variety of bikes, parts, accessories, and clothing. Additionally, the company offers bike rental and repair services. Categories of bikes available for purchase include road, mountain, electric, cyclocross, commuter, comfort, cruiser, fitness, children’s, and BMX. Some of the higher-end road bike brands available for purchase include Pinarello, Bianchi, Cannondale, and Scott. Customers can rent road bikes for between $85 per day, for a Jamis Ventura Sport, to $139 per day, for a Fuji Transonic.xx Additionally, Echelon offers packing and shipping solutions for cyclists looking to send their bike to another location.


Founded in 2004, Rapha sells cycling clothing, organizes and sponsors rides and events, and created the Rapha Cycling Club in 2015, which aims to bring cyclists together around the world through 23 clubhouses. Its clubhouses are located across Europe, North America, and Asia. The clubhouses are used as hubs for more than 12,000 members and local cyclists to plan rides, drink coffee, and try new Rapha clothing products.xxi Rapha Cycling Club offers benefits to its members that include priority access to new products, the ability to rent bikes at clubhouse locations, member-only products, a cycling social network through a mobile app, curated rides, and sponsored events. A membership to Rapha costs $100 per year.xxii Rapha was sold in 2017 to RZC Investments for £200 million.xxiii​​​​


Founded in 2011, Spinlister is a marketplace enabling users to rent bikes, surfboards, and snow equipment across the world. Spinlister works by connecting bike owners with people looking to rent or borrow. Through its platform, owners list their bikes with a daily price, and users search for a bike in the area where they will be. The full rental process is completed through the Spinlister website, mobile app, or in-store kiosks. The company also offers various protection options and delivery services. Cities where bike rentals are available include Amsterdam, San Francisco, Los Angeles, New York City, Portland, and London.xxiv Spinlister also offers Spinlister Pro, a customer-facing kiosk bike rental companies can use to facilitate bike rental transactions. In 2018, Spinlister closed down operations before changing ownership and re-launching again later that year.xxv


Mark Voysey


Mark launched Roula in 2017 with the mission of making life easier for the traveling cyclist. He previously worked in executive roles in international sport marketing, both marketing communications and experiential, for companies such as Cunning Communications, the Union of European Football Associations (UEFA), and Sports International Inc. Mark’s main focus is revolutionizing the traveling cyclist’s experience, finding the ultimate ride espresso, and looking forward to the day that Arsenal wins the Champions League. His favorite ride is Col de Rates, Spain. Mark holds an undergraduate degree in business and finance from Bristol, University of the South West.

Aldo Diaz


Aldo joined Roula in 2017 and has served as COO since. In addition to his current role at Roula, he also works as a general manager at R&A Cycles, a supplier of high-end road, mountain, and cyclocross bikes. At R&A Cycles, Aldo is responsible for store and online financial performance through community outreach and building, hiring, sales staff development, product reviews, and customer service. Other prior work experience includes personal training and life coaching at Equinox. Aldo has been an avid cyclist for years. He has competed in triathlons, road, and mountain events, and is always on the lookout for new cycling adventures.

Past Financing

Roula has previously raised $530,000 in the form of convertible notes. The convertible notes have a provision enabling the conversion to take place at the lower of: (A) a 20% discount to a priced round of financing, or (B) at a price per share of $395.88 assuming 8,000 units of Common A units are outstanding immediately prior to a qualified equity financing of at least $1,000,000, implying a fully-diluted ownership of bridge round investors of 20% following conversion. Funding came from angel investors, family offices, and entities. Previous funds were used to launch and scale business operations.



Investment Risk

The information provided herein is not intended to be, nor should it be construed or used as, investment, tax or legal advice, a recommendation to purchase, or an offer to sell securities of the company. You should rely on the offering statement and documents attached as exhibits to the offering statement when making any investment decision. An investment in the company is not suitable for all investors.

An investment in the company is speculative, and as such is not suitable for anyone without a high tolerance for risk and a low need for liquidity. You should invest only if you are able to bear the risk of losing your entire investment. There can be no assurance that that investors will receive any return of capital or profit. Investors should have the financial ability and willingness to accept the risks (including, among other things, the risk of loss of their entire investment and the risks of lack of liquidity) that are characteristic of private placement investments. There will be no public market for the securities being offered, applicable securities laws will restrict any transfer of the securities, and the securities will not be transferable without the company’s consent.

Company Risk

The company’s industry is highly competitive, and the company may not be able to compete effectively against the other businesses in its industry. The company is subject to a number of significant risks that could result in a reduction in its value and the value of the company securities, potentially including, but not limited to:

  • Rapidly changing consumer preferences and market trends,
  • Inability to expand and maintain market acceptance for the company’s services and products,
  • Inability to gain access to international markets and comply with all applicable local laws and regulations,
  • Inability to achieve management’s projections for growth, to maintain or increase historical rates of growth, to achieve growth based on past or current trends, or to effectively manage rapid growth,
  • Inability to develop, maintain and expand successful marketing relationships, affiliations, joint ventures and partnerships that may be needed to continue and accelerate the company’s growth and market penetration,
  • Inability to keep pace with rapid industry, technological and market changes that could affect the company’s services, products and business,
  • Technological problems, including potentially widespread outages and disruptions in Internet and mobile commerce,
  • Potential costs and business disruption that may result if the company’s customers complain or assert claims regarding the company’s technology,
  • Failure to adequately address data security and privacy concerns in compliance with U.S. and international laws, rules and policies,
  • Performance issues arising from infrastructure changes, human or software errors, website or third-party hosting disruptions, network disruptions or capacity constraints due to a number of potential causes including technical failures, cyber-attacks, security vulnerabilities, natural disasters or fraud,
  • Inability to adequately secure and protect intellectual property rights,
  • Potential claims and litigation against the company for infringement of intellectual property rights and other alleged violations of law,
  • Difficulties in complying with applicable laws and regulations, and potential costs and business disruption if the company becomes subject to claims and litigation for legal non-compliance,
  • Changes in laws and regulations materially affecting the company’s business,
  • Liability risks and labor costs and requirements that may jeopardize the company’s business,
  • Dependence on and inability to hire or retain key members of management and a qualified workforce,
  • Ongoing need for substantial additional capital to support operations, to finance expansion and/or to maintain competitive position,
  • Issuance of additional company equity securities at prices dilutive to existing equity holders,
  • Potential significant and unexpected declines in the value of company equity securities, including prior to, during, and after an initial public offering, and
  • Inability of the company to complete an initial public offering of its securities, merger, buyout or other liquidity event.