Pedal Ahead

Pedal Ahead

This portfolio company has been written off per generally accepted accounting principles (GAAP).

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What they do

Pedal Ahead, led by Ed Clancy, provides electric bicycles to low-income riders through its loan-to-own program. Their goal is to enhance the quality of life through physical, mental, and environmental health. With a background in political science and public policy and a passion for cycling, Ed set out to introduce a healthier way of living through bicycle accessibility. In September 2020, with the help of San Diego County Supervisor Nathan Fletcher and nonprofit Rider Safety Visibility, Ed and his team created Pedal Ahead as an environmentally conscious alternative to automobiles and a way to increase the public’s mental and physical health. Through their Pedal Ahead Movement loan-to-own program, they award low-income applicants electric bicycles for commuting to work and school, transportation, and day-to-day activities, all while promoting an active healthy lifestyle. Each participant rides an average of five miles per day, tracks and shares the ride for Pedal Ahead’s e-bike study, and secures low-cost bicycle insurance. Participants then become eligible to own the e-bike following a successful two-year term. Since launching their program they have reached a milestone of a collective 250k miles ridden by over 400 riders. Through their collaboration with UC San Diego researchers, they have also collected data from the riders, supporting research on how cycling can help reduce illnesses such as cancer, diabetes, and heart complications.

Why we invested

We invested in Pedal Ahead because we believe in their mission of creating sustainable transportation alternatives for low-income households and promoting cycling as an environmentally friendly way to get around and support physical activity. With this capital, Pedal Ahead will be able to buy e-bicycles in bulk. They plan to use cost savings to grow their team with more people from the communities they serve.

Impact Segment

Shaping local markets

Impact Vehicle

Advance Strategy

Dates of Investment

June 2022

Impact Geography

San Diego, California

Leadership

Ed Clancy President and Founder

Year Founded

2020   Refer a borrower