LitCapital et al. back Baltic Bicycle Trade

The fresh capital will help Baltic Bicycle Trade (BBT) continue to develop and manufacture electric bicycles in Lithuania and will fund working capital needs as well as sales and marketing expenses. BBT marks the sixth investment for LitCapital.

Panther, which currently owns BBT, had been concentrating the development of electric bicycles in Germany until now. A decision was made in 2012 to concentrate all activities related to the development, manufacturing and sales of electric bicycles in BBT.

According to the investment agreement, electric bicycle development functions are therefore going to be transferred to BBT in Lithuania.

Company
BBT is involved in the development, manufacturing, sale and distribution of electric bicycles. Until 2013, BBT was involved in bicycle wholesale and retail sales in the Baltic region, distributing Panther-branded bicycles.

People
Šarūnas Šiugžda is the founder and managing partner of LitCapital. Michael Schminke is the owner and CEO of Panther.

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