C

Cowboy

Direct-to-consumer connected electric bikes and services

Overview

Cowboy designs and sells connected electric bikes for urban commuters through a direct-to-consumer model supported by test-ride locations and service centers, with subscriptions for maintenance, insurance, and accessories. The bikes feature a minimalist lightweight frame, removable battery, carbon belt drive, integrated lights, and app connectivity including a secure digital key, GPS theft protection, ride stats, and navigation, plus AdaptivePower that adjusts motor output automatically. It differentiates itself with strong design, modular hardware, direct branding control, and a social/environmental focus evidenced by B Corp certification. Its goal is to make e-bikes a mainstream transport option by lowering costs and delivering reliable, well-integrated urban mobility tech.

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About Cowboy

Simplify's Rating
Why Cowboy is rated
C-
Rated C on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

Automotive & TransportationHardwareIndustrial & ManufacturingConsumer Software

Company Size

201-500

Company Stage

Acquired

Total Funding

$147.1M

Headquarters

City of Brussels, Belgium

Founded

2017

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Simplify's take

What believers are saying

  • September 9, 2026: Cowboy says it is back and adding 50 shops soon.
  • ReBirth restarted production in January 2026 and is clearing backlog, restoring spare parts, and shortening deliveries.
  • France expansion uses ReBirth’s 95 Oxygen stores, 10 Ovelo stores, and 500 dealers.

What critics are saying

  • Cowboy’s 2024 report showed €21 million losses, €56 million debt, and negative €43 million equity.
  • The May 2025 C4 ST MR recall exposed frame failures after 2,500 kilometers and damaged trust.
  • ReBirth owns 80% after a rescue; failure to hit 2027 breakeven can trigger another collapse.

What makes Cowboy unique

  • Cowboy combines connected-bike software, with Connect games, theft alerts, and crash detection.
  • Brussels design team and ReBirth manufacturing network separate product development from industrial execution.
  • Its minimalist, lightweight e-bikes still target urban commuters who value style, app integration, and convenience.

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Funding

Total Funding

$147.1M

Above

Industry Average

Funded Over

12 Rounds

Notable Investors:
Acquisition funding comparison data is currently unavailable. We're working to provide this information soon!
Acquisition Funding Comparison Coming Soon

Benefits

  • Flexible Work Hours

Growth & Insights and Company News

6 month growth

0%

1 year growth

0%

2 year growth

0%
Daily Education
Dec 20th, 2025
Cowboy saddles up with a new owner

Another independent rides off into the sunset. | Image: Cowboy The Brussels-based electric bike company has officially closed its deal to be acquired by ReBirth Group Holding, which also owns...

De Tijd
Dec 18th, 2025
Cowboy acquired by French industrial group ReBirth, CEO Adrien Roose departs

Brussels-based e-bike manufacturer Cowboy has been acquired by French industrial group ReBirth. The takeover marks the departure of Cowboy's chief executive officer and co-founder Adrien Roose from the company. No financial details of the transaction have been disclosed.

The Verge
Dec 18th, 2025
Cowboy e-bikes acquired by ReBirth for €15M to restart production after near-bankruptcy

Brussels-based electric bike company Cowboy has been acquired by ReBirth Group Holding, which owns cycling brands Peugeot, Gitane and Solex. The deal includes undisclosed funding from ReBirth and €15 million from existing shareholders. The funding will restart production and address a backlog of spare parts. ReBirth is the parent of Re-cycles, the French manufacturer that took over Cowboy's e-bike assembly operations earlier this year. Cowboy faced significant challenges in 2025, including delayed deliveries and repairs, and a costly frame recall that brought the company close to bankruptcy. The company's design, engineering and software teams will continue operating independently from Brussels, though founder and chief executive Adrien Roose has departed.

The Bulletin
Oct 5th, 2025
Cowboy saved by €15M Rebirth takeover

Brussels-based e-bike company Cowboy was saved from bankruptcy by a takeover from French e-mobility firm Rebirth, which invested €15 million and acquired an 80% stake. Rebirth plans to cut costs and expand Cowboy's retail presence. Cowboy is projected to lose €8-10 million this year with a turnover of €20-22 million, aiming to break even by 2027 with €40 million turnover. Original investors lost most of their investment, retaining only 20% of the company.

De Tijd
Sep 25th, 2025
ReBirth acquires Cowboy for €15M investment

French conglomerate ReBirth is acquiring the struggling Brussels-based e-bike brand Cowboy. ReBirth is investing €15 million in the rescue, securing an 80% stake in Cowboy.

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