Upway, a French startup that refurbishes and resells secondhand e-bikes, has just raised $30 million in Series B funding.
The Paris-based company, founded in 2021 by former Uber executives Stéphane Ficaja and Toussaint Wattinne, buys up used e-bikes, refurbishes them where necessary, and sells them on for a discounted price.
Electric bikes sales hit 5 million in 2021 , out of 22 million overall bike sales, according to European trade organization CONEBI.
Micro-mobility rentals, such as Lime and Tier, helped popularise the market and accelerate the adoption of e-bikes in cities, Wattinne said.
Check out the 17-slide redacted pitch deck it used to raise the funds:UpwayUpwayUpwayUpwayUpwayUpwayUpwayUpwayUpwayUpwayUpwayUpwayUpwayUpwayUpwayUpway
Persons:
Stéphane Ficaja, Toussaint Wattinne, Wattinne, Bolt, David Helgason, Ari
Organizations:
Uber, Business, Korelya, Sequoia, Exor Ventures, Unity
Locations:
Paris, France, Belgium, Netherlands, Germany, LA, Grover, Berlin