Description

Designed by cyclists, Cycling District is an innovative community cycling project. Cycling District is preparing to open its first studio designed to help individuals unlock their cycling potential, regardless of each person's experience level.

The studio will offer a unique, gamified training experience using advanced technology and real-time metrics allowing significant gains in performance. The promoter will also provide personalized training plans, including options for weight loss, cardiovascular health, performance enhancement, and rehabilitation. 

Cycling District's first location, currently under construction, will open on the 2nd of January 2025 in Oporto, on Alameda das Antas, 120. This campaign aims to finance the acquisition of 35 top-notch static bikes, headwind fans (that adjust the wind speed according to the heart rate frequency of each rider), and functional gym equipment. This equipment is crucial for a seamless and immersive cycling experience and a personalized approach according to member's own preferences and goals.

Focused on community, Cycling District wants to create a safe and immersive environment, free from "traffic and weather" concerns, where people can train individually or in groups. Members can also enjoy a functional gym and a lounge area for socializing and watching cycling events.

Investors in this campaign may enjoy a free trial session and will be invited to the opening event.

The Impact

Direct

• Promote safe sports practice: the cycling studio contributes to increase the safety of sports practice and reducing risks of road traffic accidents and adverse weather conditions, by providing the technology needed to best simulate outdoors cycling inside. And safety measures around cycling are central to the promoter in the planned community events.
• Promotion of healthy lifestyles and well-being: increased cycling habits contribute to healthier lifestyles, while participation in sport reduces the risks of heart disease, stroke, diabetes and other non-communicable diseases. The studio has an approach focused on health improvement incorporated to the training plans. Also, by integrating groups activities, indoors and outdoors, the promoter wants to build a community around cycling, which contributes to overall wellness.

Indirect

• Jobs creation: with the opening of the studio, the promoter will hire three new employees until March of 2025.
• Reduced and efficient resources consumption: the studio will have equipment that enables efficient and reduced water and electricity consumption, associated to an insulated and thermal-efficient building.
• Contribution for more equal access to sports: Cycling district contributes to improve access to the sports practice by offering smart bikes that allow athletes of different levels to have both individual and group experiences, adapted to their performance and goals. Also, the studio promotes awareness around gender in sports, mainly cycling, in a YouTube channel where they highlight stories of athletes from diverse backgrounds.

Impact Indicators

3

jobs created

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

The investment from this campaign will be used to acquire the 35 static bicycles and the functional gym equipment needed for the public opening in January 2025. The project has been mostly funded by the founders and business angels who have invested their own funds to launch the business, including refurbishing the first studio, branding, and pre-sales activities. 

Sales campaigns have already started with early bird registration for memberships and bootcamps. The founders are excited about the size of the European indoor cycling market (around EUR 450M), which is expected to grow at a CAGR of 8.7% until 2030 (Europe Indoor Cycling Industry Report 2024). Expected revenue after 12 months of operations is 500.000 euros, which in addition to the scheduled repayments to the investors, will be reinvested to grow the number of members in Porto, and the company by setting the grounds for an expansion to other geographies and new studio openings.

Download the Financial Statements for the promoter here: Financial Statements - Cycling District LDA.pdf

This project has a minimum target of 80.000€ As stated in Part B of the KIIS document (Key Investment Information Sheet), the minimum targeted loan amount is 80.000€, this means the funding campaign can close with any amount between 100.000€ and 80.000€.

Capital at risk - investing involves the risk of losing part or all of the money you invest.  Although Goparity implements risk-mitigation measures, to further reduce the risk of capital loss, please remember to diversify your portfolio to limit your exposure to specific projects. Learn more about risk mitigation here >

Download Key Investment Information Sheet

Guarantees

Loans granted to the promoter CYCLING DISTRICT, LDA by investors will have the following guarantees, provided for in the loan agreements associated with the campaign:

• 1st degree commercial pledge, under Portuguese law, provided by CYCLING DISTRICT, LDA, of assets to be purchased with the amount borrowed through this crowdlending campaign, totalling an LTV (Loan To Value) of 96,38%, namely: 35 exercise bikes and other gym equipment with a total purchase value of 103.758,14 euros (excluding VAT).

The equipment must be installed at the premises of CYCLING DISTRICT, LDA.

The Promoter

About Cycling District

Cycling District aims to bring more people into the sport by creating a vibrant, inclusive space where anyone, from beginners to seasoned athletes, can explore the thrill of cycling. The studio aims to provide a controlled, immersive environment with top-of-the-line equipment, expert coaching, and a personalized approach, breaking down the barriers to entry. The name Cycling District and the motto “performance cycling, for all” is meant to represent a place where everyone can feel at home in their cycling journey, discovering the camaraderie, challenge, and joy of indoor cycling.

Cycling District was founded in 2024 in Porto by a group of dedicated entrepreneurs who saw a unique opportunity through the hobby of one of its founders, Diogo Oliveira. Diogo discovered indoor cycling with simulation software, and what began as a pastime soon became a passion. Over two years, he immersed himself in this world, eventually joining a competitive cycling team and winning a couple of stages of a virtual Tour de France. The journey wouldn’t have been possible without José, who first introduced Diogo to this concept. José later became the Cycling District’s first team member and is currently managing the Porto studio. 

Together, they envisioned a space where virtual friends could connect in real life and experience the excitement of competing side by side. The founders also realized the importance of making cycling more accessible, as riding on busy streets or in harsh weather can be daunting, and home setups are often isolating, costly, and require technical knowledge.

The team

Diogo Oliveira

Co-Founder & CEO

Over 10 years of leadership experience. Owns a Zwift community with 2K+ members. Exited his first e-commerce startup. Grew Landing.Jobs revenue from €200K to €10M ARR and scaled team to 100+ FTE.

Bernardo Pequito

Co-founder

Over 10 years as a venture capital investor. Board member at several early-stage tech-based startups. Seasoned founder. Launched 3 startups.

Francisco Matos

Co-founder

Over 10 years in Retail and Healthcare industry focusing on Corporate Strategy, Business Development, and International Expansion.

Business Model