November the 12th, 2021 - The Croatian Greyp bikes, the largest individual owner of which is much loved entrepreneur Mate Rimac, has seen continuous and steady growth, even in spite of the coronavirus pandemic.

As Poslovni Dnevnik/Sergej Novosel Vuckovic writes, this Sveta Nedelja-based company has grown 110 percent in recent years, this year that growth will exceed 120 percent, and the Croatian Greyp bikes company working seriously on its first city model, the electric citybike, which should be on the roads of the cities and streets by early 2024.

This was revealed on the sidelines of the first inter-industry discussion on sustainable business, launched by Nestle in Croatia, by Vladimir Karmelic, the marketing manager of the Croatian Greyp bikes company. The new model should be predestined for city driving and be more affordable, according to Karmelic. Existing models are more for mountain and trekking activities.

"With the development of technology that is our primary focus, we can see that the next step for the bike is to have it be an everyday companion to the rider, it will have navigation that warns of pollution on the route, informs the rider where there is traffic and crowding in the city and recommends green routes,'' Karmelic stated when describing the future Greyp bike, a vehicle which is set to fit even more into the story of sustainability and the eco profile that the company believes so strongly in.

This year at the Croatian Greyp bikes company they can be very satisfied indeed with the irnumbers, they have sold, all over the world, 1500 of their most popular model, the G6, the older G12 was about sixty models sold, and the latest, presented this summer, the T5, has seen about 600 copies sold. Unlike the vast majority of companies, the pandemic has actually helped them due to increased demand, but, they admit, also slowed some things down because parts factories in Vietnam and Thailand ended up being closed.

Due to global disruptions in supply chains caused by that same public health crisis, they have experienced difficulties with the procurement of certain components, especially technological ones important for connectivity, which also affects the delivery of finished products. But unlike their competitors (including “regular” manufacturers), which have also experienced significant delays, Greyp bike customers are already aware that they'll have a wait of around two months on their hands after making their purchase.

For more, check out Made in Croatia.

September the 11th, 2021 - Cryptocurrency is in the news more and more frequently of late, either for good or bad reasons. This popular way of investing and it being outside the realm of much government control has proven popular, and as it leaks into the mainstream, people are able to do more and more with it. Mate Rimac, who is perhaps the most forward-thinking entrepreneur in Croatia, has now allowed his Greyp Bikes to be purchased with it.

As Poslovni Dnevnik writes, thanks to the cooperation of Mate Rimac's Greyp Bikes and PayCek, the leading Croatian cryptocurrency payment processor, all Greyp products can now be purchased directly through nine leading cryptocurrencies: BTC, ETH, BCH, XLM, XRP, DAI, EOS, USDT, USDC.

Greyp Bikes has always been a leader in technology in the cycling world, bringing Croatia forward in that respect too, so this was a logical next step in the further development of this Sveta Nedelja-based company.

Although Greyp Bikes could have been purchased with cryptocurrencies before, the process has now been simplified and fully integrated into the online billing process at greyp.com. The move should come as no surprise to anyone who monitors what Livno-born entrepreneur Mate Rimac does when it comes to both his cars and his bikes, and it seems that advancing forward further and further is something he is deeply interested in.

PayCek, which was otherwise developed by Electrocoin, is a cryptocurrency payment platform that has attracted a new generation of consumers as it enables the easy, secure and fast acceptance of all major cryptocurrencies, and this created a perfect partnership between these two technologically advanced Croatian technology companies.

As Greyp Bikes' slogan suggests - NO GOING BACKWARDS, and this move will certainly make any transactions much more simple and secure.

For more, make sure to check out our dedicated business section.

July 13, 2021 - Thanks to the marvelous fusion of genius and technology of Greyp and its sister company Rimac, Greyp T5 e-SUV - a new, high-tech 100-kilometer electric trekking bike was born. Here is Micah Toll's experience on Greyp T5's first-ever external test ride in the lovely Croatian countryside!

Micah Toll is a highly experienced mechanical engineer in the electric vehicle industry who is also the author of #1 Amazon bestselling books such as DIY Lithium Batteries, DIY Solar Power, The Ultimate DIY Ebike Guide, and Electric Motorcycles 2019. It is not surprising that Greyp would invite Micah to their headquarters and give him the honor to do the first-ever external test of the new bike. 

"Nestled in the outskirts of Zagreb, Croatia, sits an unassuming building where some of the most high-tech electric bicycles in the world are dreamed up, designed, and then manufactured. Greyp applies the same kind of forward-thinking approaches as its electric supercar parent company, Rimac, resulting in e-bikes that are both high performance and high tech. Now the company has branched out into yet another e-bike category as it tackles trekking bikes with the new Greyp e-SUV T5.", Micah Toll wrote at the beginning of his review on Electrek.co.

Filling the gray area between the limited capacity of road and mountain bikes, trekking bikes offer a more rugged yet comfortable ride than gravel bikes but also have better performance than a regular hybrid bike. According to Micah, Greyp's new e-SUV T5 has wider tires and handlebars that are perfect for riding in less ideal conditions; the added electric motor, too, helps riders to push longer and farther on their adventures. The bike usually comes with components needed for road and utility use such as lights, racks, and fenders.

The Greyp T5 intensive design is perfect for both a city ride and a bike ride through the Alps. "Adorning the frame is a host of high-end components that each impact the experience of the ride. While flying fast over dirt trails I had the confidence of a dedicated mountain bike, yet I still felt quick and efficient in the city – not like I was lugging a mountain bike through an urban jungle. That’s thanks to the hybrid design of a good trekking bike like the T5, something that can split the gap between the two distinct disciplines," Micah Toll commented. The T5 also comes with high-power Busch+Müller LED lights. 

Greyp Bikes Smart Technology

T5 e-SIM | Courtesy of Greyp Bikes

The Greyp team proudly says: “A Greyp bike wouldn’t be a Greyp bike without its integrated eSIM which delivers constant connectivity, and for the complete experience, the accompanying Greyp App provides additional numerous handy features. The Greyp App can be used in two modes: Dashboard and Remote. The Dashboard mode transforms the smartphone into an extended dashboard and gives access to various features like turn-by-turn navigation, terrain-based range, camera, and Retro Video, while the Remote mode can be used much like the bike`s remote control, so users can text, take a photo, remotely lock the bike, or activate the kill switch to shut it down completely.”

All of Greyp's e-bikes come with an integrated e-SIM technology, too, which provides constant connectivity to The Grey App.

T5 App Ride Session | Courtesy of Greyp Bikes

Micah Toll's Final Thoughts on the Greyp T5 e-SUV

Micah Toll praised how much Croatia's Greyp e-bike company pays attention to every bit of their products' details. Since all the production is done in-house, Greyp bikes are built from the ground up and under the constant scrutinizing eyes and hands of Croatia's top engineers and experts in the electric vehicle industry.  According to Greyp, “Some companies just choose an e-bike out of a catalogue and sell it. Others go farther and choose a frame from the catalogue. Others are even more involved and choose from a catalogue of tubes to build a frame. We start from scratch and design our own tubes.”

Courtesy of Greyp Bikes

The difference between Greyp and other companies is that Greyp is a company where top engineers, mechanics, battery builders, designers, testers, and the sales team work under one roof whilst closely supervising the creation of their products down to the very last detail - and that is something most companies cannot claim. Greyp's excellent teamwork shows in the level of quality and design of Greyp's e-bikes and that is what customers and avid e-bike enthusiasts will pay for. It certainly isn't cheap (Greyp's manufactured suggested retail prices start at 4,449EUR) but as Micah Toll wrote at the end of his product review, "As a premium model, this obviously isn’t an e-bike for everyone. But for those that can afford it, the quality and ride experience will make it worth every penny. I’d kill to have one in my garage, that’s for sure!"

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More than 1000 investors have invested in this Croatian company, raising its market value to a massive 45 million euros. As Poslovni Dnevnik/Bernard Ivezic writes on the 3rd of December, 2019, Greyp Bikes, whose founder and director is the incredible Croatian entrepreneur from Livno, Mate Rimac, has raised 1.44 million euros in capital, 79 percent more than the target, through the popular German platform Neufund.

This concludes, and very successfully so, the first regulated blockchain and cryptocurrency group investment campaign in a company located here in Europe. In the USA, such investment campaigns have been underway since May 2016, the crowdsourcing platforms and campaigns are overseen there by the SEC regulator and FINRA.

Here at home in Europe, however, the move by the Croatian electric car manufacturer and Greyp Bikes owner sets a real precedent on the financial markets here. Greyp Bikes has launched the first legal Equity Token Offering (ETO) in the whole of Europe.

Its compliance with the law was monitored by the Liechtenstein Financial Market Authority (FMA) regulator. ETO is a combination of the controversial and unregulated Initial Coin Offering (ICO) and the more traditional and preregulated Initial Public Offering (IPO). In recent years, many entrepreneurs have opted to raise capital through ICOs because of the low costs involved, which has created pressure on the offer of expensive investment mechanisms, such as IPOs, upon which the world stock exchanges from the NYSE and LSE to the ZSE are based.

Mario Vojvoda, ETO project manager at Greyp Bikes and co-founder and technical director of Croatian startup Tolar, says they have opened a new opportunity for EU companies and investors: "ETO investing will increase financing opportunities for all companies and democratise the availability of money, which is something crucial in markets like the Croatian one, which isn't so much in the focus of big investors,'' stated Vojboboda, noting that Greyp Bikes' ETO still didn't go all that smoothly despite the excellent results we now see in the end.

Potentially the biggest problem was created by the German regulator BaFina, which, as soon as it found out what was going on, issued a statement accusing the Croatian company of potentially issuing a public offering without a prospectus through the aforementioned German platform.

BaFina argued that there was no exemption from the obligation to publish a prospectus for all campaigns advertised in Germany under their Securities Act. It also demanded clarification from Greyp Bikes. Neither Neufund, Greyp Bikes or even crypto experts saw the issue as ETO approval was issued by the Liechtenstein FMA. This turned the debate into a weighing-in of the forces of the two EU regulators. The direction in which that all went is best described by the fact that BaFina did not seek a ban on Greyp Bikes' campaign, that is, it was more than successfully concluded.

Mario Vojvoda politely declined to comment on BaFina's move, but stressed that the most important thing for them from the beginning of campaign planning was that the process was regulatory-compliant and fully legal.

"We've made great efforts to have a serious, transparent, clear and legally clean process and we consider our process to be completely regular," stated Vojboda. He added that it is absolutely crucial for them to have a dialogue with regulators and to make sure all the details are clear. All of this fuss failed affect the ETO campaign. Greyp Bikes had planned to raise 805,617 euros, and in the end, a total of 1017 investors bought stakes in the Croatian company in the amount of 1.44 million euros.

As a result, Greyp Bikes now has a market value of 45 million euro or more than 330 million kuna. Here in Croatia, Funderbeam SEE offers a similar investment opportunity, but for example without cryptocurrency payments. However, as with stock exchanges, it seems crucial to choose a specific target group of investors. Namely, some of the biggest investors and biggest business partners in Mate Rimac's businesses so far come from Germany.

"The campaign has aroused a lot of investor interest and has thus enabled us to create a technology-loving community that is ready for bold steps in technology development, in which it will actively participate with Greyp, Bikes" explained Vojvoda.

Mate Rimac, founder and CEO of Greyp Bikes, sees the company with revenues of one billion kuna by 2024. Last year, according to Fina, the company reduced revenue from 3.6 kuna down to 3.2 million kuna, while the company's losses increased from 2.7 kuna to 7.7 million kuna. On the other hand, it sees growth in the use of blockchain in smart traffic. Neufund itself is already preparing three new ETO campaigns for two startups from Germany and one from India.

Make sure to follow our dedicated Made in Croatia and business pages for much more.

As Poslovni Dnevnik writes on the 26th of September, 2019, Croatian entrepreneur Mate Rimac's company, Greyp Bikes, has managed to raise nearly one million euros (7.4 million kuna) from interested investors through a public offering of a digital token they launched on Monday, which we reported on recently.

Naturally, the popular company was expecting good results, according to Philip Nendl, project manager at Greyp Bikes, but they didn't by any stretch of the imagination expect that in the first 48 hours of launching the campaign, which is still a novelty in Croatia and around the world, they'd already ''have'' 2000 investors, half of which are from here in Croatia.

The greatest level of interest lies in the fact that the new investment model, so-called crowdinvesting, anyone can become a shareholder in Mate Rimac's electric bike company, of which Porsche owns an 11 percent stake, for a minimum investment of 100 euros.

The investment is managed through the German Neufund token issuing platform, which uses this new model (Equity Token Offering - ETO), that is, shares in a particular company through blockchain technology.

Since the Berlin-based platform has recently been licensed by regulatory agencies in Liechtenstein and Germany, making it the first legally regulated blockchain platform to make investments for the "ordinary people", Mate Rimac's company is the first company in the Republic of Croatia and indeed worldwide to launch a campaign through them with public token offerings.

Platform investors, as Nendl explains, don't have to be accredited or have a broker to invest, they just have to leave their information. Once identified, the investor is credited with the purchase of a token, after which they are entitled to participate in a fourteen-day private sale in which all pre-registered investors receive a 10 percent discount.

For a minimum stake of 100 euros, the investor will receive about 16 tokens because the value of one token is 0.16187 euros, and one million tokens represents one share, according to a report from Jutarnji list.

Make sure to follow our dedicated business and Made in Croatia pages for more information on Mate Rimac and much more.

As Filip Pavic/Novac writes on the 20th of September, 2019, Greyp Bikes, an electric bike company owned by Croatian entrepreneur Mate Rimac, which is also the sister company to the famed Rimac Automobili, is launching a digital token public offering.

More specifically, starting on Monday, September the 23rd, Greyp is launching a crowdfunding campaign in which any interested investor, with a minimum stake of 100 euros, can become a stakeholder in Mate Rimac's Greyp Bikes and stand by the side of giants such as Porsche, which holds an eleven percent stake there. Mate Rimac's company notes that the investor thus exercises the right to vote in the company's management decisions and has the right to the payment of dividends.

As Filip Nendl, project manager at Mate Rimac's Greyp, explained, their public offering of tokens, namely equity token offering (ETO), is among the first such of fundraising models in the whole world. It's not a classic listing on the stock market because it is done through blockhain technology, but neither is the ICO (initial coin offering) version of crowdfunding in the crypto-world, something that has been extremely popular in recent years.

Namely, unlike an ICO, in which the investor doesn't enter into any sort of legal relationship with the company, with the ETO model, the investor becomes a shareholder of the company and as such, exercises certain rights. Therefore, investors in Greyp cannot be as anonymous like investors in an ICO can.

The procedure works in several stages. The first step is to identify a potential investor on the German Neufund platform where said would-be investor will have to leave their information.

The platform is similar to the well known Kickstarter, where, after a white listing process in which investors will express their interest, or pre-register for the purchase of unbound tokens, a private sale will start in which only they will be able to participate. Those who participate in the private purchase of tokens earn a ten percent discount. If all the tokens are not sold for private purchase after two weeks, the public sale of the tokens begins.

In this way, Greyp, whose current valuation is an impressive 45 million euros, aims to raise five million euros in investments. Thus, in addition to euros, the investor will be able to pay in Ether cryptocurrency, and in the same cryptocurrency a dividend will be paid out. There are only 30 stocks available, with one share equivalent to one million tokens valued at 0.161870 euros. The minimum investment is, as previously mentioned, 100 euros.

Make sure to follow our dedicated business page for more information on Mate Rimac and his companies and much more.

Mate Rimac is one of the more famous and much more positive entrepreneurial stories from Croatia. While setting up a business here is no easy feat, regardless of what you're doing, Mate Rimac's inspiring story of a curious child-turned-adult who never gave up despite the infamous red tape of the Croatian state is enough to put a smile on anyone's face.

Echoing the great Nikola Tesla and having firmly placed Croatia on the map for something else other than tourism, sunshine and the Adriatic sea, Rimac's innovative ideas go from strength to strength. From incredible vehicles like the C_One and C_Two to Greyp bikes and more, this Croatian entrepreneur from Livno, Bosnia and Herzegovina, has been a light in the dark for potential investment from the automotive industry in Croatia.

Providing the Croatian Government with his step by step guide to attractive investment from an industry, such as the automotive one, which has all but bypassed Croatia for fear of the endless and draconian bureaucracy and dreadful investment stories, this extremely talented man never stops.

His company, (which isn't the famed Rimac Automobili this time) doesn't stop either, and it has now launched two more brand new e-bicycles onto the market.

As Poslovni Dnevnik/Goran Jungvirth writes on the 4th of September, 2019, at this year's EUROBIKE Friedrichshafen Show (September 4-7) Mate Rimac's company Greyp Bikes unveiled two new e-bikes.

''GreypG5 is finally out'', the company stated on social media, boasting that the e-bike was made up of some of the absolute best parts from the cycling world.

At the aforementioned German trade show, they also introduced a ''limited edition'' GreypG6X model that was ''made up of only the finest parts'', which include Öhlins forks and rear shock absorbers, carbon wheels and Magura brakes, as well as wireless seat positioning - Greyp's so-called  ''#smartass technology''.

"And they say there is no such thing as a #hyperbike ...", the company wrote sarcastically.

Watch a video of Rimac's Greyp Bikes here:

Make sure to follow our dedicated Made in Croatia page for more information on Mate Rimac's incredible business ventures and Croatian-made products.

A new line of Greyp mountain bikes was presented in Zagreb last night. Unlike with the cars developed by Mate Rimac and his company, the emphasis with the Greyp Bikes is not on speed and power, but on connectivity and smart solutions which should bring about a unique user experience. The technology is the main difference between the new Greyp G6 and the existing mountain bikes, reports Večernji List on March 16, 2019.

Unlike its predecessor, the G6 is a pedelec model, which means that the rider has an electric motor assist, but as soon as he or she stops pedalling, the assistance also ends. The novelty of the new generation of Greyp bikes is their constant internet connectivity through eSIM technology, which opens up new possibilities for bicycle use and riding experience, and allows its owners remote control of specific bicycle functions as well as their monitoring. In addition to all the electronics and software, the G6 is a fully-fledged mountain bike. The frame is made of reinforced carbon fibre composite, with enduro-geometry and 27,5+ tires.

“It took us four years of intensive research, development and testing to create a product that we can present to the public. The features of the system and the technology platform are more important than the product itself. Unlike traditional bicycle companies, instead of equipping a bicycle with electric drive, we have developed a bike around the drive, sensors and constant connectivity to the internet. I believe that we have linked the bicycle and digital components in a unique way, integrated the sensors and cameras, networked the bicycles, developed a mobile app and created a whole new bike experience”, said Mate Rimac.

One of the main features of the new bicycle is the role of the smartphone which becomes the main user interface. Connectivity allows you to send commands to the bike or download images from integrated bicycle cameras even when the bicycle and the user are not in the same location. Cameras capture every situation, and videos and photos can be shared real-time on social networks.

“The whole bike is about connectivity and the Internet, the Internet of Things... There is eSIM, and you do not need a physical SIM card. Each Greyp comes with eSIM, which is just software, and until 2020 everybody will have a free Internet package. We are doing this for our other projects as well, both for our cars and for the cars of other manufacturers, because we are working on connectivity systems for others,” said Rimac.

Rimac explained that America, surprisingly, is still a very weak market for electric bicycles. “By far the largest market is Europe, particularly the German-speaking area, so we are focusing there for the time being,” Rimac said, adding that he thinks that Germany will be the largest market for the new bike.

“The main task was to develop the system. And now we want to expand this system to others because it is perhaps even more important to build that user ecosystem than to produce bicycles,” Rimac said.

Rimac also announced that in April the company will move a large part of the production to a location about half an hour away from Sveta Nedelja, where it is now, and that they wanted to remain in the area.

Translated from Večernji List (reported by Zoran Vitas).

More news about Mate Rimac can be found in the Business section.

Mate Rimac excels in more than just electric cars.

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