Cowboy

What Cowboy does

Cowboy is a Brussels-headquartered direct-to-consumer electric-bike manufacturer founded in 2017, designing in Belgium and assembling its bikes in France. Its core product portfolio comprises connected e-bikes — the Cruiser and Cruiser ST (step-over and step-through comfort frames, 40–90 km range), the Cross and Cross ST (dual-suspension, 60–120 km range), and the Classic — all built around its proprietary AdaptivePower™ motor-control system that senses incline, wind, and rider weight to automatically adjust power output. Every bike is app-gated for activation and pairs with the Cowboy mobile app to deliver GPS tracking, hidden GPS theft detection, crash detection, auto-lock, ride statistics, and over-the-air updates; the company also sells a Connect connectivity subscription and add-on theft insurance and Care maintenance plans, plus a Circular certified-refurbished sub-brand selling pre-owned bikes from €2,399 with a one-year warranty.

Cowboy operates primarily direct-to-consumer through country-specific e-commerce storefronts across 13 European countries and the United States, complemented by company-owned retail in Berlin and Paris, a 40+ city mobile-test-ride programme, and a service network of 125+ service centres and mobile technicians. The company also runs B2B and individual leasing programmes and a student pricing tier, broadening the addressable buyer base beyond the urban commuter. Pricing for new bikes sits in a €2,398–€3,999 band depending on model and configuration.

As of December 2025, Cowboy is majority-owned by French mobility company ReBirth Group Holding SA following a rescue recapitalization that injected €15 million of new capital, refinanced the business, and relocated production to ReBirth's French manufacturing facility. After a period of operational distress marked by supply-chain disruption and delivery backlogs, the company reported clearing approximately 90% of outstanding orders by early 2026 and is targeting delivery times of 20 days or less from Q2 2026. The company had previously raised approximately $140 million across venture and crowdfunding rounds, anchored by EXOR, Index Ventures, Tiger Global, HCVC, and Future Positive Capital, with later support from Cypress Capital.

Name

Cowboy

Legal name

Cowboy SA

Website

https://cowboy.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Cowboy is a Brussels-based direct-to-consumer e-bike manufacturer founded in 2017, selling app-connected electric bikes featuring proprietary AdaptivePower™ motor control across 13 European countries and the United States. It operates through its own e-commerce, retail stores in Berlin and Paris, leasing programmes, and a 125-centre service network.

Ownership category

akta.pro rank

Product category

Connected Electric Bicycles

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

E-Bike Retail (CRAMAHAE)

akta.pro secondary industries

E-Bikes & Electric Bicycles (CRACASAA), Cycling & Bike Retail (Sales, Service & Accessories) (CRAMABAH)

Keywords

• Connected e-bikes
• Electric bicycles
• Urban mobility
• Smart bicycles
• Electric bike manufacturing

Headquarters

HQ city

Brussels

HQ country

Belgium

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. E-bike Hardware Sales: Primary revenue stream from direct sales of connected electric bikes. New bikes sold at various price points, with models including Classic, Cruiser, Cruiser ST, Cross, and Cross ST. Certified refurbished bikes available through Circular program at lower price points.
2. Cowboy Connect Subscription: Optional subscription service providing enhanced features including battery monitoring and real-time tracking through the app.
3. Services and Accessories: Additional revenue from theft insurance, warranty extensions, care plans, and accessories including parts and components.
4. Leasing Programs: Bicycle leasing options for both individual and business customers through partnerships.
5. Cowboy Circular (Refurbished): Certified refurbished bikes program generating revenue from pre-owned bikes refurbished and resold.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Cowboy designs, manufactures, and sells premium connected electric bicycles for urban riders, sold under the Cruiser, Cruiser ST, Cross, Cross ST, and Classic model lines. Every bike integrates the proprietary AdaptivePower™ automatic motor-assistance system and pairs with a companion app that delivers GPS tracking, crash detection, theft alerts, auto-lock, navigation, and over-the-air software updates. The company also offers connected services (Connect subscription, Care maintenance), theft insurance, and a Circular refurbished-bike program to support the full ownership lifecycle.

Product overview

Cowboy is a Belgian e-bike manufacturer offering a portfolio of connected electric bikes. The core product lineup consists of four main models: Cruiser and Cruiser ST (comfort-oriented step-over and step-through frames with 40-90km range), and Cross and Cross ST (dual-suspension models with 60-120km range for city and beyond). All bikes feature proprietary AdaptivePower™ technology that automatically adjusts motor output based on incline, wind, and weight. The ecosystem includes the Cowboy App (required for bike activation and operation), Cowboy Connect (add-on for battery monitoring), Cowboy Care (maintenance services), and Theft Insurance. Cowboy Circular is a certified refurbished sub-brand offering previously ridden bikes at reduced prices with 1-year warranty. The company was acquired by French mobility group ReBirth in late 2025 and production has restarted at ReBirth's French manufacturing facility.

Differentiator

Problem solved

Functional benefit

Brands

• Cowboy Circular: Certified refurbished e-bike program offering previously ridden bikes refurbished to as-new condition, with a 1-year warranty, sold starting at €2,399.
• AdaptivePower

Products and services

• Cowboy Cruiser A premium connected electric city bike with a rigid frame, designed for urban riders seeking a minimalist, performance-oriented daily commuter. Features AdaptivePower™, removable battery, integrated lights, and full app connectivity including GPS tracking, crash detection, and OTA updates.
• Cowboy Cruiser ST A step-through (ST) version of the Cruiser with a lower top tube for easier mounting, targeting urban commuters who prefer an accessible frame geometry. Includes the same AdaptivePower™ technology, app integration, and safety features as the standard Cruiser.
• Cowboy Cross A rugged, all-terrain connected electric bike designed to handle both urban streets and light off-road trails. Features wider tires, a more capable frame geometry, and the same AdaptivePower™ motor-assist and app-based smart features as Cowboy's city models.
• Cowboy Cross ST A step-through version of the Cross, combining all-terrain capability with a lower top tube for easier mounting. Geared toward urban and suburban riders who want ruggedness without sacrificing accessibility.
• Cowboy Classic Cowboy's original connected electric city bike, offering a timeless, minimalist design combined with the company's AdaptivePower™ technology and full app-based smart features. Positioned as the entry point to Cowboy's premium e-bike lineup.
• Cowboy Connect A subscription service bundled with every Cowboy bike that includes theft protection, live GPS tracking, crash detection alerts, Connected Care (remote diagnostics and support), and ongoing over-the-air software updates to keep the bike's smart features current.
• Cowboy Care An optional maintenance and servicing package that provides scheduled servicing, repair coverage, and access to Cowboy's network of service centers and mobile technicians to keep the e-bike in optimal working condition.
• Theft Insurance An optional add-on insurance product covering theft of the Cowboy bike, designed to complement the in-app theft detection and GPS-based Find My Bike features.
• Cowboy Circular A refurbished-bike program that resells certified pre-owned Cowboy e-bikes, supporting the company's circular-economy strategy and offering a more affordable entry point to the brand.
• Cowboy for Business A B2B leasing and fleet program that enables companies to offer Cowboy e-bikes to employees as a sustainable commuting benefit, mobility allowance, or internal fleet. Tailored for HR, workplace experience, and sustainability teams.

Quantifiable outcome

• Riders have collectively ridden hundreds of millions of kilometres
• +3 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature8 records

Partnerships

One partnership is on record.

• Cross-selling PartnersminorOthers · 1 November 2025Cowboy is mentioned in consulting firm case studies regarding ROI in cross-selling strategies, indicating partnerships with marketing analytics or consulting firms for cross-selling optimization.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• VanMoof: Dutch premium connected e-bike brand and Cowboy's closest direct competitor. Both target urban commuters with app-connected, design-led e-bikes at similar premium price points; VanMoof has itself undergone significant operational restructuring, making the comparison highly instructive.
• Ampler Bikes: Estonian-origin DTC premium urban e-bike brand selling lightweight, design-led connected e-bikes direct to consumers across Europe. Closely overlaps with Cowboy's target customer (urban professionals), price band (€2,000-€3,500), and DTC go-to-market.
• Stromer: Swiss premium speed-pedelec and urban e-bike manufacturer. Comparable as a premium European e-bike specialist targeting commuters, with connected features and a similar premium ASP band.
• Riese & Müller: German premium e-bike manufacturer focused on high-end urban and trekking e-bikes. Comparable as a design- and engineering-led European premium e-bike brand, although distributed primarily through dealers rather than pure DTC.

Broad incumbents

• Specialized Bicycle Components: Global premium bicycle incumbent with a strong e-bike lineup (Turbo series) and broad dealer network. Comparable as a premium e-bike competitor with greater scale, broader distribution, and deeper R&D resources than Cowboy.
• Trek Bicycle Corporation: Major global bicycle and e-bike manufacturer (Domane+, Allant+, Rail+) with extensive dealer and service infrastructure. Comparable as a large-scale incumbent overlapping Cowboy's urban e-bike segment.
• Giant Group: World's largest bicycle manufacturer with a broad e-bike portfolio across price tiers. Comparable as a scaled incumbent with manufacturing depth and global distribution that Cowboy lacks.

Emerging players

• Aventon: US-based DTC e-bike brand expanding into premium urban categories. Comparable as a digitally native, design-led e-bike brand challenging Cowboy on connected features and DTC execution, with a stronger US foothold.
• Rad Power Bikes: Largest US e-bike DTC brand, expanding into Europe and moving upmarket into premium urban categories. Comparable as a high-velocity DTC e-bike operator; overlaps Cowboy in connected features and direct online sales motion.

Others

• Cowboy parent: ReBirth Group (Easybike): French multi-brand mobility group (formerly Easybike) that now controls Cowboy. Relevant as the parent platform providing shared manufacturing, supply chain, and distribution — useful for understanding Cowboy's strategic and operational context post-acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cowboy_hq
• YouTubeyoutube.com/c/COWBOYBikes/featured
• Facebookfacebook.com/CowboyHQ
• Instagraminstagram.com/cowboybike

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds15 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cowboy