Buzzbike will give commuters a free bike to keep, but there's one catch

Do you want to ride to work but can't afford to upgrade to a good enough bike to get you to the office? New cycling initiative Buzzbike seems to be offering a deal that is almost too good to be true.

The scheme will see members be given a free, top-of-the-range single speed to take home and keep, as well as some lights, a bike lock and even insurance for a deposit of £100.

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All you need to do in order to keep the bike is ride to work on it a minimum of 12 days a month and park it on the street. Your commutes will be tracked through an app that automatically connects your phone with your Buzzbike.

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Parking on the street seemingly gives the partners of Buzzbike the advertising they need to make the scheme viable - each bike will be customised by mobile payment company Braintree.

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Buzzbike co-founder Tom Hares says: "Brands have been advertising on commuter transport for hundreds of years. Given the growth in cycling and the culture that surrounds it, bikes felt like a natural progression.

"The technology we’ve developed allows brands to create surprising and fully integrated brand experiences, whilst providing Londoners with a completely free way to get around the city”

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For the month of June, Buzzbike is also offering the chance for the public to buy shares in the company for £10, helping the company put the bikes on the road.

There is also an exhibition about the cycling revolution at the London Design Museum running until June 14. Buzzbikes will reportedly be on the road in September, so make sure to look out for them.