BikeFinder tracks and retrieves stolen bikes

Bicycle theft has exploded along with the sale of electric bikes. In the EU alone, three to four million bikes are stolen each year. In Amsterdam, for example, one in three bikes is stolen annually, and most stolen bikes are never recovered.

“Bicycle theft has become a major socioeconomical problem. Globally, e-bike theft is the highest return-on-risk crime, and now organised crime rings are involved,” explains Sunde.

BikeFinder is a tracking device that uses GPS, GSM, LTE, WiFi and Bluetooth technology to pinpoint a bike’s location. The state-of-the-art technology easily integrates into any type of bicycle in any country in the world.

“We have the most advanced tracker on the market. We combine hardware and an IT approach to provide the best possible location information. This is new in the bike industry,” says Sunde.

Learn more: Track your bike from your mobile

The IoT device is secured inside the handlebar with a patented expansion mechanism, making it virtually impossible to remove without the special tools included with the tracker.

In addition, BikeFinder comes with a free mobile app, where the bike owner can check the bike’s position 24/7, receive push notifications if it is moved, and report a theft. If the bike is stolen, customer service guides the owner through the retrieval process with the local police.

A full 80 per cent of BikeFinder-equipped bikes are returned to their owners following a theft. This compares to the typical 5 per cent return rate of reported thefts.

“From day one we focus on finding bikes instead of just tracking them,” says Sunde.

Once a bike is reported stolen through the mobile app, BikeFinder’s customer service jumps on the case. The bike’s precise location is pinpointed, and short-range finding is used to establish a live connection to the bike. Police will then send a patrol to the location.

“We have a good collaboration with the police,” says Sunde. “Our secret sauce is understanding how the police work, adapting to them and providing them with solutions. For example, vital information about the owner and the bike is already stored in our system.”

Moreover, when bike ownership is safe and secure, more people are more willing to choose bikes over cars. “We are passionate about enabling green personal transportation,” she adds.

The global electric bike market is exploding, with a projected value of USD 119.72 billion by 2030. Parallel to this, bike theft is rising in many cities, and organised crime is increasingly targeting more expensive e-bikes.

Given this, BikeFinder has reinforced its focus on the OEM market, selling directly to bicycle manufacturers which preinstall the IoT device on their newly produced bikes.

“Most bike producers realise they need to do something about the risk of theft. If customers have a choice between buying a typical ‘stealable’ bike and a bike equipped with BikeFinder, they will choose ours every time,” says Sunde.

Launched in 2019, BikeFinder is currently in use in 34 countries. The company has a strong presence in the Nordics, the UK and Germany, which is its newest and largest market.