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

Minimum investment: $5,000 NZD

Funded Wholesale
Max target: $15,000,000
Ended 2021-04-30 22:00:00
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$13,840,608 Funded Wholesale
$15,000,000 Max. target
Offer closed 10:00 pm, 30 Apr 2021

Investment Highlights

  • An opportunity to invest in the rapidly growing global electric vehicle market.
  • Utilising a proven subscription business model incorporating hardware, software, add-ons and extensions.
  • A clear pathway to $100m annualised recurring revenue.
  • A strong global team with significant industry and management experience.
  • An established international manufacturing supply chain, with sales, marketing and distribution in each key market and complete product assembly in the US
  • A 5th generation production vehicle with global homologation for on-road use.
  • A fully integrated cloud-based user and fleet management system.
  • A business that has built a strong brand and a global following.
  • UBCO is seeking to raise up to $15M from wholesale investors via a Convertible Note which is linked to a $20M Series B raise. The Convertible Note will accrue interest at an annual rate of 10% and convert into shares at a share price based on the lower of a 25% discount to a Series B valuation and a valuation cap of $50M. Further information on the convertible note terms is found on the 'Offer' tab.


UBCO - Power Your Purpose

The simple definition of Utility is ‘the state of being useful, profitable, or beneficial’. A perfect definition of what we want our utility vehicles to be.

Born day one to meet the daily needs of farmers and adventurers across NZ, our utility vehicles have been built for rugged hard work and simplicity.

At UBCO we want to power your purpose for work and fun. Provide power to move and to do things every day. Enable people to do inspiring stuff: take inspirational journeys, explore our planet and to work smarter and safer. People want a better world, and we want our products to make a difference in it.

Our goal and how we achieve this 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.” We are well on our way towards this, with UBCO bikes having been ridden all over the world, from snow-clad mountains and remote deserts to farms, forests, and coastlines.

Founded in 2015 and launched in 2017, UBCO now has customers spanning the world and is positioned as a leader to execute on the massive opportunity across consumer and business delivery.

The award-winning journey has seen us solve the biggest challenges to ensure we have a loved product and are ready to scale globally.

Customers needed to take vehicles on road, so we developed and released our first homologated road legal product in 2018. This included a big step in technology with a new Electronic Control Unit (ECU), Automatic Over-the-Air (OTA) software updates and a digitally connected application for diagnostics and control. We are now certified for road use in Australia, NZ, US, UK and Europe.

In 2020 we delivered our first enterprise fleet through Domino’s Pizza in NZ, which included the UBCO cloud fleet portal. UBCO has weathered the COVID storm and is well positioned to execute a truly global opportunity in consumer and enterprise fleets, as well as bring additional products and technology to market in the future.

UBCO is headquartered in NZ but we are a truly global company. We have sales, marketing and distribution in each of our key markets, as well as a world-class manufacturing supply chain, including complete product assembly in the US.

We have comprehensive capabilities in place with a connected platform that gives direct feedback to accelerate innovation from vehicle design and engineering, scalable manufacturing, software engineering, distribution and online servicing and monitoring and performance analytics.

Current Stage of Business

We have reached a landmark point in the UBCO growth journey, having made considerable progress accelerating the transition to electric mobility by making the world’s toughest electric utility vehicles. Our 2X2 bikes are loved by our customers and have already stacked up millions of kilometres worldwide.

COVID-19 has 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 has also accelerated the underlying expansion of delivery fleets in all of our key markets. This year, we closed a major food delivery enterprise in NZ on a subscription basis and are now rolling this out globally. We are also engaged in discussions with a number of large international companies that are in various stages of changing out their combustion engine delivery fleets. One of these opportunities alone represents more bikes than double the entire sales history of UBCO.

Company Timeline

Team Overview

Our global team draws from world class experience and skills that cover deep tech, product commercialisation, sales, marketing, manufacturing and distribution.

Photo of Timothy Allan

Timothy Allan CEO/Managing Director (NZ)

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.
Photo of Katherine Sandford

Katherine Sandford Executive Chair (NZ)

Katherine developed her career at Trimble Inc and held leadership roles in Customer Service, and Sales & Distribution, and served as General Manager across several vertically focused businesses. Over more than 20 years, she worked in Europe, the US, and NZ. Katherine is a professional director, serving on several boards as well as chairing the UBCO Board of Directors.
Photo of Tracey Swinehart

Tracey Swinehart Chief Financial Officer (NZ)

Tracey is an experienced Executive Director and CFO with a demonstrated history working in innovative NZ businesses. Tracey has strong product and manufacturing experience. Before joining UBCO, Tracey worked alongside Timothy at Locus Research as an Executive Director, bringing a commercial focus to Locus clients.
Photo of Neil Tierney

Neil Tierney Chief Marketing Officer (UK)

A seasoned designer and marketer, Neil is focussed on building ambitious purpose driven brands and customer centred businesses. UK Entrepreneur of Year 2004. Advisor and investor with 20 years’ board experience including three successful exits. Specialty using data, insight and digital to unlock the full potential of customers and partners.
Photo of Ethan Ralston

Ethan Ralston Executive & Director (US)

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.
Photo of Rob Beck

Rob Beck Chief Technology Officer (NZ)

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.
Photo of Colin Godby

Colin Godby Chief Product Officer (US)

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 market. Previous to UBCO, Colin worked in a variety of industries including consumer electronics, advanced vehicle technologies, and themed entertainment.
Photo of Rachel Alderwock

Rachel Alderwock Customer Service, NZ

Rachel is an experienced Customer Services Professional with a demonstrated history in a variety of industries including Banking, Insurance, Account Management and Consumer Products. Now heading the Customer Services Team at UBCO ensuring we deliver the best customer experience possible.
Photo of Justin Pagirys

Justin Pagirys Commercial EMEA (EU)

Leading our EMEA markets Justin has held commercial and growth roles globally and led Invest Lithuania sales team, a top 3 investment agency in Europe. Co-founder and CEO of Neematic, now an UBCO business, which developed the FRX1 electric free trail bike. Based in Lithuania.
Photo of Phil Harrison

Phil Harrison EVP, Enterprise & Sustainability (US)

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.

Warning statement

It's crucial for you to understand the characteristics and risks of this investment opportunity. New Zealand law normally requires people who offer financial products to provide in-depth information to investors before they invest. The usual rules do not apply to offers by companies through Snowball Effect. As a result, you may not be given all the information you need to make an informed decision. Investing is risky. Some of the key risks include loss of capital, illiquidity, lack of returns, dilution, loss of key people and customers, and lack of control. You should only invest money that you can afford to lose.