Danish cycling success gears up for global expansion: “I no longer have to gamble with the exchange rate”

While many SMEs struggle with unpredictability and expensive solutions, Omnium has professionalised its financial engine in step with its growth into a larger international company. Gut feelings have been replaced by hard-nosed risk hedging, and CEO Matias Ovens explains how they protect their margins in an uncertain world.

Ten years ago, Omnium was a hobby business in a basement in Nørrebro. Today, it is one of the most authentic success stories in Danish business, shipping thousands of bikes from its headquarters in Rødovre to customers all over the world. The success is built on a product that has redefined the cargo bike: fast, lightweight, and riding exactly like a normal bicycle – just with “absurd amounts” of cargo capacity.

When kompasbank first visited Omnium in 2023, the story was about the wild journey from basement project to international success. Since then, the company has grown to 30 employees, and revenue increased by nearly 10 percent last year. But success brings complexity. With an annual foreign exchange volume of more than DKK 25 million, CEO Matias Ovens has had to accept that the methods that worked in the company’s early years are no longer sufficient.

No more “gambling”

Production of bike components takes place in Asia, with purchases settled in US dollars (USD) and Japanese yen (JPY), while revenues are primarily earned in euros (EUR). This creates significant exposure to global currency fluctuations, which in the worst case can erode margins in the space of a single morning. Previously, the strategy relied on manual monitoring and a fair bit of luck.

“In the past, I was basically gambling a little. I’d think about whether I should pay an invoice today or in five days, and when it made the most sense in terms of the exchange rate. I don’t have to do that anymore,” says Matias Ovens.

Instead of hoping for the best, Omnium now uses currency forwards through kompasbank’s FX platform, locking in exchange rates for up to 15 months.

“It gives us tremendous cost certainty. We know exactly what it costs to bring our goods home, and we know our margins in advance – no matter how global markets jump around. That peace of mind is crucial when you’re running a business with suppliers in Taiwan, Japan and China,” he explains.

Banks are “notoriously expensive” and slow

For Matias Ovens, switching to a dedicated FX solution was also about breaking away from traditional banks’ fee structures.

“Banks are notoriously not very cheap when it comes to dealing in foreign currency. Especially when payments have to go outside the SEPA network, it quickly becomes expensive in both fees and poor exchange rates. We save several thousand kroner almost every time we pay a larger invoice now,” he says.

Beyond the direct savings, speed has become a decisive factor in relationships with overseas suppliers. Where a transfer outside the SEPA network could previously take a week, it now often takes just a day or two.

“It actually matters for our supplier relationships that they can see the money quickly. It gives them peace of mind as well,” the CEO notes.

Professionalisation as a foundation for growth

Omnium’s journey is a textbook example of how ambitious Danish SMEs can leverage new technology to strengthen their competitiveness. By eliminating slow processes and costly solutions, the team can focus on what they do best: developing the bikes that are now loved by everyone from professional couriers to urban families looking for a greener alternative to the car.

The company is now heading into 2026 with new product launches and more international partnerships – backed by a financial engine ready for the next big sprint.

“We’ve spent the last few years adjusting our administrative setup to becoming a larger company. It’s about working smarter,” says Matias Ovens.

“My advice to other Danish companies with international ambitions is clear: get your currency setup in place as early as possible. Especially if you trade heavily in US dollars, it almost doesn’t matter what size company you are – it can pay off very quickly. It might take half an hour to understand, but it delivers money to the bottom line and peace of mind from day one.”

About Omnium

• Designs and sells fast, lightweight cargo bikes built for both heavy loads and everyday riding.

• Approximately 30 employees.

• Annual FX volume: +DKK 25 million.

• Global sales via webshop and distributors in, among others, Europe, Japan, the US and Australia.

• omniumcargo.com/dk