UBCO Investment offer preview

UBCO designs and manufactures the world’s toughest electric utility vehicles, that are effortless, safe, intelligent and affordable.

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The goal at UBCO is to accelerate the global transition to electric mobility by designing the world’s toughest electric utility vehicles, that are effortless, safe, intelligent and affordable.

Since it was established in 2015, UBCO has evolved into a digitally connected UEV platform including on and off-road transport, portable power, accessories, and cloud-based software.

Founded in New Zealand, UBCO can now be found in international markets including the United States, Australia and Europe.

UBCO has reached a landmark point in its growth journey and is offering a convertible note to wholesale investors as part of its pathway to a significant Series B raise in 2021, with the potential for an ASX/dual listing in the following two years.

2020 Update

UBCO made considerable progress accelerating the transition to electric mobility. The 2X2 bikes are loved by customers and have already stacked up over 15 million kilometres worldwide.

COVID-19 accelerated UBCO’s drive to go 100% digital across sales, training, service and customer support, realising significant efficiencies internally, and an enhanced experience for customers.

It also accelerated the underlying expansion of delivery fleets in all of our key markets. During 2020, UBCO engaged with Domino’s Pizza in NZ on a subscription basis, and are now rolling this out globally. The Enterprise applications range across agriculture, freight, delivery and last mile, tourism, conservation and defence. One of these opportunities alone represents more bikes than double the entire sales history of UBCO.

To execute on the opportunity UBCO have:

  • Launched the 5th generation 2X2, with telemetry connectivity;
  • Launched UBCLOUD, the intelligent platform for fleet management;
  • Appointed Executive leadership in London, Seattle and San Francisco;
  • Adopted a subscription business model generating strong margins;
  • Secured a Tier 1 bank facility for enterprise fleet financing;
  • Qualified a pipeline of enterprise fleet opportunities with a clear pathway to over $100M ARR.


UBCO launched its first UEV in its home market of New Zealand in 2016. The bike was named the 2x2 for the two hub motors in its front and rear wheels which enabled better traction and more torque in off road conditions. Initial production runs sold out quickly and UBCO established good credentials and a global following. Along with the sale of UEVs, UBCO has also developed an eco-system of products and services that provide additional lifetime customer value.

By 2017, customers had indicated the desire 
for a road legal version of the 2x2. UBCO responded to this demand by launching the Dual-Purpose 2x2, built on the same chassis, but designed for road legal compliance within the United States and Europe. In 2020 UBCO launched the 5th generation 2X2, with telemetry connectivity and UBCLOUD, the intelligent platform for fleet management.

UBCO has rapidly developed into a digitally connected UEV platform. Leveraging the benefits of modern electric drive and battery technology, UBCO’s platform includes on and off-road transport (2×2), portable power, accessories, and subscription software. UBCO provides a complete solution, from an individual user to enterprise customers across a wide range of applications.

UBCO has established an international presence with distribution channels in three key geographies: Australasia, the United States and Europe. Each distributor sells to a network of UBCO-approved dealers, alongside UBCO’s direct to customer (D2C) online channel through their website.


See UBCO's Product Range


UBCO sits in a large growing market category globally. The rapidly growing concerns regarding vehicular emissions and increasing consumer awareness are driving global demand for electric vehicles. The electric motorcycle and scooter market size was valued at $30bn USD in 2019 and forecast to grow in double digits in developed economies following China’s early adoption.

UBCO has developed a pipeline of Enterprise opportunities. These have been used to create a bottom-up TAM from fleets in food delivery, last mile, postal and freight delivery and agriculture. This provides visibility of over NZ$2.3bn in Annual Recurring Revenue (ARR).

There are two clear types of customers, end-users (individuals) and business customers (fleet) who are drawn from varied application areas. The Enterprise applications range across agriculture, freight, delivery and last mile, tourism, conservation and defence.

UBCO's main competitors are grouped into new entrants in the on and off-road electric vehicle manufacturers (e.g. Niu, Zero, Cake, Surron ), and incumbent combustion engine manufacturers (e.g. Honda, Yamaha, Polaris Industries etc).

UBCO’s driving point of difference is the intelligent EV platform which gets smarter with each kilometre travelled.


  • Timothy Allan (CEO): A co-founder of UBCO, Timothy brings over 20 years of experience leading design and commercialization of global products. Prior to leading UBCO, Timothy founded Locus Research, a product development company that he led for 15 years, designing and commercializing successful products across construction, medical devices, and aerospace.
  • Katherine Sandford (Chair): Katherine developed her career at Trimble Inc and held leadership roles in Customer Service, Sales & Distribution, and served as General Manager across several vertically focused businesses. Over more than 20 years, she worked in Europe, the United States and New Zealand. Katherine is a professional Director, serving on several Boards as well as chairing the UBCO Board of Directors.
  • Neil Tierney (Chief Marketing Officer & Board Advisor): Seasoned designer and marketer focussed on building ambitious purpose-driven brands and customer centred businesses. UK Entrepreneur of the Year 2004. Advisor and investor with 20 years' board and experience including three successful exits. Specialty using data, insight and digital to unlock the full potential of customers and partners.
  • Ethan Ralston (Chief Sales Officer & Director): Leading sales and growth Ethan is an experienced entrepreneurial executive within the technology industry. Over 13 years leading growth in presidential, CEO and VP of Business Development roles at Feeney Wireless later Inseego with Novatel Wireless. Founded businesses in IoT and Electric Vehicles. Ethan brings leadership in LTE, Sales, Customer Success Marketing and Financial Management.
  • Colin Godby (Chief Product Officer): Colin heads up the Product and Engineering groups at UBCO. This means building out the strategy for how UBCO develops compelling products to drive our growth while also establishing the frameworks for design, development and delivery into the market. Previous to UBCO, Colin worked in variety of industries including consumer electronics, advanced vehicle technologies and themed entertainment.
  • Rob Beck (Chief Technology Officer): Leading our technology team, Rob is an innovation leader across New Zealand's high-tech landscape. A gifted Electronics Engineer, with over 20 years experience developing and manufacturing embedded systems across products ranging from mass market consumer, vehicles and aerospace.
  • Tracey Swinehart (Executive): Tracey is an experienced Executive Director and CFO with a demonstrated history working in innovative NZ businesses. Tracey has strong product and manufacturing experience.
  • Phil Harrison (VP Enterprise & Sustainability): Phil has over 10 years’ experience building CleanTech businesses. In that time, he has been a founder, strategy consultant, and joins UBCO after leading the CVC arm of global advisory firm Anthesis. From co- founding and bootstrapping a UK based renewable energy business, to leading the growth of a multi-disciplinary consulting firm, he understands how to grow businesses, attract and retain customers.


UBCO has a significant lead on competitors and requires capital to:

  • Expand sales and customer success capability to accelerate closure and de-ployment of large fleet deals;
  • Shorten production lead times; and
  • Increase production frequency and volumes

UBCO is seeking to raise $5M from wholesale investors via a Convertible Note which is linked to a $20M Series B raise. The convertible note will convert at a 25% discount to a Series B raise and will pay 10% interest (capitalised).

Next Steps

Please register your investment interest below if you would like to receive further information and gain early access to the wholesale offer when it launches.

If you have any questions feel free to get in touch with Simeon Burnett at [email protected]

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About Snowball Effect

Snowball Effect is a New Zealand-based online investing marketplace, that enables New Zealand companies to offer shares to members of the public. Snowball Effect was founded in 2012 and launched in August 2014, after being one of the first to acquire an equity crowdfunding license from the New Zealand Financial Markets Authority (FMA). Over NZ$90 million has been raised on the platform.