Hosted by BBC Wales presenter, Sian Lloyd, the awards ceremony recognised those fledgling companies and individuals who have made a significant impact over the last three years.
Recognised for its innovative proposition and growth, PedalCover won the Financial & Professional Services Start-up of the Year Award.
Launched in 2014 by passionate cyclist and experienced insurance broker, Darren Thomas, PedalCover was born out of a lack of insurance cover in the sport.
Darren’s original idea has drawn in thousands of clients all over the UK, including one of the UK’s leading Olympians, Vicky Holland.
Due to mass support and fast growth, PedalCover has been recognised by a number of awards, including the British Insurance Awards, National Business Awards, Wales Entrepreneur of the Year and GB Entrepreneur of the year.
On winning the latest award Darren Thomas said: “We are delighted to have won this award. We’ve been very successful the past year, picking up various awards celebrating our insurance ideas. Being from Wales myself, it is great to be recognised for the difference PedalCover is making to the Welsh economy.
“As a keen cyclist, I knew there was a whole community of people struggling to find adequate insurance cover for their bikes. It has taken a lot of hard work to get here but our unique offering has filled a gap in the market that people have taken to very quickly.”