Cowboy, the Brussels-based connected e-bike maker, says it has secured the lifeline it needs to keep the lights on – and the wheels turning – after what the company calls “the most challenging period in its history.” And while market downturns and supply chain woes set the stage, it was a recall that nearly pushed the brand over the edge.

Over the past two years, Cowboy has been riding through the same headwinds that have knocked down much of the bike industry: post-COVID demand shifts, supply chain breakdowns, and a brutal market correction that has already claimed several high-profile e-bike brands. But in the middle of that storm came an extra blow – the company’s first-ever recall.

It started with an unapproved change from a supplier that affected a subset of Cowboy’s Cruiser ST bikes. It turned out that the frames were starting to crack after 2,500 km (1,550 miles). The issue was obviously serious, and it inevitably triggered an official recall. Frames had to be replaced, deliveries were delayed, spare parts became scarce, and customer service backlogs grew. For a company built on sleek design and seamless rider experience, it was a gut punch.

Cowboy says they kept quiet publicly while working on a solution, but now they’re ready to talk – because they’ve found one. In an announcement this week, the company revealed two major milestones: short-term financing to restart production and operations, and a signed term sheet with new financial partner REBIRTH GROUP HOLDING SA. The deal comes with the backing of Cowboy’s existing investors and debt provider, setting the company on a path it says will lead to long-term stability.

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There’s already some tangible progress. Replacement frames have arrived from suppliers, the first recall service hub is now operational (with more to open this summer), and production is gradually ramping back up.

Cowboy’s goal is to have normal operations restored before the end of the year, which means clearing backlogged orders, resolving outstanding customer cases, and getting back to the level of service that won them awards and loyal riders in the first place.

Cowboy has built a reputation for high-tech, urban-focused e-bikes and a premium riding experience, with customers across Europe and the US. But even the best-connected bike in the world can’t outrun a recall and a funding crunch forever. Now, this new deal gives Cowboy both the extra cash and the extra shot it needs to keep the ride going.