Jul 20, 2026 – 2.13pmAustralian electric bike subscription start-up Lug+Carrie has pocketed $18 million in fresh funding to turbocharge its expansion along the US West Coast.Street Talk can reveal Lug+Carrie’s long-time lender, climate-focused boutique financier Catalytic Impact Capital, has written a new asset-backed debt facility to back the next stage of the company’s US expansion and help it take on the San Francisco Bay Area, Los Angeles and Seattle markets.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?