Cyclescheme

What Cyclescheme does

Cyclescheme is the UK's most popular cycle to work scheme provider, founded in February 2005 by Gary Cooper and Richard Grigsby, co-owners of a bike shop in Bath. The company facilitates salary sacrifice agreements between UK employers and their employees under the Government's Cycle to Work initiative, enabling purchases of bikes, e-bikes, accessories and safety equipment with employees saving up to 47% on total cost through pre-tax salary deductions. Employers save up to 15% on National Insurance Contributions per transaction, and the scheme is administered at zero cost and zero risk to the employer. Cyclescheme is FCA authorised (Firm Reference Number 742049) and operates across the UK and Ireland.

The platform is built as a cloud-based salary sacrifice certificate administration system with three integrated portals: an employer dashboard (within BHN Extras) for scheme management and approvals, an employee-facing application journey, and a retailer B2B portal for certificate redemption with next-day payment processing. Notable integrations include a Citrus-Lime eCommerce partnership that enables independent bike shops to process Cyclescheme certificates digitally alongside Click & Collect, and a Bikmo insurance partnership providing exclusive post-purchase coverage. Cyclescheme is ISO 9001:2015 and ISO 27001:2013 certified, and was a driving force behind the 2019 removal of the £1,000 price cap via the Cycle to Work Alliance.

Cyclescheme makes money through per-transaction administration fees embedded in the salary sacrifice certificate lifecycle, supplemented by retention of small non-refundable deposits (3% or 7% of certificate value) when employees choose the 'Own it later' ownership option. The company is a wholly owned subsidiary of Blackhawk Network, serving 50,000+ UK employers, 1,267,440+ satisfied end customers, and operating through 2,600+ partner bike shops — the largest retailer network of any UK scheme provider. Supporting products include savings and health calculators, e-bike and adapted cycle options, an Into-Cyclescheme programme for low wage earners, and complementary benefits (Techscheme, care-4, bYond) within the broader BHN Extras platform.

Name

Cyclescheme

Legal name

Cyclescheme Limited

Website

https://cyclescheme.co.uk

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

251–500 employees

Short description

Cyclescheme is the UK's leading cycle to work scheme provider, administering salary sacrifice purchases of bikes and e-bikes for over 1.27 million employees across 50,000+ UK employers and a 2,600-strong retailer network, as a wholly owned subsidiary of Blackhawk Network.

Ownership category

akta.pro rank

Product category

Cycle to Work Scheme / Employee Benefits Administration

akta.pro primary industry

Cycling & Bike Retail (Sales, Service & Accessories) (CRAMABAH)

akta.pro secondary industries

Bike Apparel, Helmets & Protective Gear Retail (CRAMAHAC), Bike Rental, Demo & Tour Operators (Retail-Adjacent) (CRAMAHAJ)

Keywords

• Cycle to work scheme
• Salary sacrifice benefits
• Employee benefits platform
• Corporate bike scheme
• Tax-efficient commuting

Headquarters

HQ city

Tring

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Salary Sacrifice Certificate Administration: Cyclescheme facilitates employer-employee salary sacrifice agreements for the purchase of bikes, e-bikes, and accessories. The scheme is FCA authorised (FRN 742049). Revenue is generated through a per-transaction administration model where employers handle salary deductions before tax, and Cyclescheme manages certificate issuance, redemption, and ownership transfer. No upfront cost to employers. Employers save up to 15% on National Insurance Contributions on each salary sacrifice transaction.
2. Employer Scheme Management Fees: Free for employers to join and run. Cyclescheme generates revenue from the spread and administrative fees embedded in the salary sacrifice transaction lifecycle. The 'Own it later' ownership option at end of hire period generates a small non-refundable deposit retention (3% or 7% of certificate value) when employees choose to keep the equipment.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels10 records

Core offering

Cyclescheme operates the UK's leading salary sacrifice cycle to work scheme under the Government Cycle to Work initiative, enabling employees to obtain bikes, e-bikes, accessories and safety equipment with up to 47% tax and National Insurance savings while employers save up to 15% on NICs. The platform connects 50,000+ UK employers with a network of 2,600+ partner bike retailers through digital certificate issuance, automated redemption, and next-day payment processing. The service is delivered via the BHN Extras employer portal and is FCA authorised (FRN 742049).

Product overview

Cyclescheme is the UK's most popular Cycle to Work Scheme offering a single unified salary sacrifice benefit platform. The core Cyclescheme product enables employees to save up to 47% on bikes, e-bikes, accessories and safety equipment through employer-backed salary sacrifice schemes. Supporting tools include a Savings Calculator and Health Calculator. The service connects users to over 2,600 partner retailers across the UK. Cyclescheme also offers a free insurance exclusive through Bikmo (10% discount + 14 days free). The company operates under Blackhawk Network's portfolio alongside related benefits including Techscheme (technology), care-4 (childcare vouchers), and bYond (savings card).

Differentiator

Problem solved

Functional benefit

Products and services

• Cyclescheme (Core Cycle to Work Scheme) UK's most popular cycle to work benefit enabling employees to salary sacrifice for bikes, electric bikes, accessories and safety equipment with up to 47% savings. Employees pay nothing upfront and payments are taken from salary before income tax. Employers save up to 15% on National Insurance Contributions per transaction.
• Bike Rental Bike rental service allowing users to rent bikes before committing to purchase through the salary sacrifice scheme, helping customers trial cycling before a full cycle to work purchase.
• BHN Extras Free employee benefits platform accessible through the BHN Extras portal, bundling Cyclescheme with other Blackhawk Network employee benefits including Techscheme, care-4, and bYond for small businesses.
• Bikmo Insurance Exclusives Exclusive Cyclescheme insurance bundle offering a 10% discount plus 14 days free insurance through Bikmo, covering accidental damage and theft on cycle to work bikes, with 25% saving on e-bikes and 50% multi-bike savings.
• Into-Cyclescheme Programme extension of the core cycle to work scheme that enables low wage earners to access a bike even when they fall outside normal salary sacrifice eligibility criteria.
• Techscheme Home and tech employee benefit scheme under the Blackhawk Network portfolio, offering technology purchases through salary sacrifice and cross-sold to Cyclescheme customers.
• care-4 Childcare voucher scheme under the Blackhawk Network portfolio, complementing the cycle to work benefit offering for employees.
• bYond Savings card product under the Blackhawk Network portfolio, distributed alongside Cyclescheme and other employee benefits.

Quantifiable outcome

• Employees save up to 47% on bikes, e-bikes, accessories and safety equipment
• +5 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• BikmocoreGTM or Marketing PartnerAward-winning insurance provider offering exclusive 10% Cyclescheme discount plus 14 days FREE insurance on new cycle to work bikes. Additional benefits include accidental damage and theft coverage, 25% saving on e-bikes, and 50% multi-bike savings. This exclusive partnership enhances the Cyclescheme offering at point of purchase.
• Citrus-LimecoreTechnology or IntegrationRetail technology pioneers providing eCommerce integration for independent bike shops across the UK. The integration enables a streamlined digital shopping experience for Cyclescheme participants, supporting Click & Collect market growth. Faster, more efficient certificate redemption process.
• Blackhawk NetworkcoreStrategic or Co-development PartnerCyclescheme is a wholly owned subsidiary of Blackhawk Network (BHN). The parent company provides the BHN Extras platform infrastructure, FCA regulatory standing, and cross-selling opportunities with other employee benefit schemes including Techscheme, care-4, and bYond. Cyclescheme forms part of BHN's expanding global portfolio of employee benefits products and services.
• Cycle to Work AlliancecoreStrategic or Co-development PartnerIndustry lobbying alliance formed by the UK's four largest scheme providers: Cyclescheme, CycleSolutions, Evans Cycles, and Halfords. Created to provide a unified voice for cycling to work, positively lobbying government and contributing to legislative guidance. Contributed to the 2019 removal of the £1,000 price limit, enabling e-bikes and adapted cycles. Adrian Warren of Cyclescheme served as Chair of the Alliance.
• National Rail Enquiries / PlusBikeminorGTM or Marketing PartnerPartnership with National Rail Enquiries' PlusBike platform to provide integrated cycle-rail journey planning information. Helps cycle commuters plan combined bike and train journeys with information on cycle facilities at stations, carriage rules, and reservation details.
• Department for Transport, HMRC, and FCAcoreStrategic or Co-development PartnerThe legislative 'holy trinity' underpinning the Cycle to Work Scheme framework. Cyclescheme operates under FCA authorisation (FRN 742049) and complies with HMRC guidelines. The scheme meets the government's three cycle to work objectives: CO2 emission reduction, congestion reduction, and improved public health and wellbeing.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Reward Gateway: Reward Gateway is a UK-based employee engagement and benefits platform offering cycle-to-work schemes within its broader rewards suite. It competes for the same HR benefits budget as Cyclescheme.
• Perkbox: Perkbox is a UK employee perks and benefits platform with cycle-to-work and broader wellbeing offerings. Comparable to Cyclescheme's BHN Extras positioning as a one-stop employee benefits hub for employers.
• Vivup: Vivup is a UK employee benefits platform offering Cycle to Work alongside other salary sacrifice schemes (childcare, tech, holidays). It serves the same employer HR buyer but as a multi-benefit bundle rather than a cycling specialist.

Direct peers

• Bike2Work Scheme: Bike2Work Scheme is another UK Government-approved Cycle to Work salary sacrifice administrator, targeting the same employer and employee segments with a similar retailer partner network model.
• Halfords Cycle to Work: Halfords runs its own in-house Cycle to Work scheme as a UK bike retailer and scheme provider. As both a Cyclescheme retail partner and an in-house scheme competitor, Halfords is a direct comparison for cycle-to-work administration.
• CycleSolutions: CycleSolutions is one of the UK's four largest Cycle to Work scheme providers, named as a Cyclescheme ally in the Cycle to Work Alliance. It operates the same salary sacrifice administration model targeting UK employers and partner bike retailers.
• Evans Cycles Ride to Work: Evans Cycles, the UK's largest specialist bike retailer, operates its own Ride to Work scheme and is a Cycle to Work Alliance member. It competes directly with Cyclescheme on employer schemes and overlaps as a retail partner.

Emerging players

• Yellow Bikes (Yellow Jersey): Yellow Jersey administers Cycle to Work schemes for UK employers, focused on independent bike shop partnerships. Comparable as a specialist scheme administrator with a retailer-led model.

Others

• Edenred UK: Edenred is a global employee benefits and prepaid corporate services provider with UK operations spanning vouchers, cards, and mobility benefits. It is adjacent to Cyclescheme's salary sacrifice administration space.
• Sodexo Benefits & Rewards Services UK: Sodexo is a global employee benefits and quality-of-life services provider operating in the UK, comparable as an adjacent ecosystem participant in the broader employer benefits market Cyclescheme addresses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/cycleschemeltd
• YouTubeyoutube.com/user/cyclescheme
• Facebookfacebook.com/cyclescheme
• LinkedInlinkedin.com/company/cyclescheme
• Instagraminstagram.com/cyclescheme

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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 Cyclescheme