London-based cargo bike delivery service Pedal Me entered administration last week, after it failed to reach a deal with the British tax authority, HMRC, over debts. The business was then bought back from administrators, meaning it will continue trading.
However, crowdfunding investors who put money into the start-up have been left with nothing; its three rounds of crowdfunding have raised hundreds of thousands of pounds for the company over the last few years. Its last round, in 2021, raised £584,711.
