Upway: The latest figures, news and market research on Upway

Turnover: 6.561 million EUR (2022)

Country: France

Specialist in eclectic bike reconditioning

Upway escapes the downturn in the bicycle market. 17/11/2023

Probikeshop, France's leading online bicycle retailer, is in receivership.
Designer electric bike brand VanMoof was rescued from bankruptcy in September by scooter manufacturer Lavoie.
The bicycle market is stagnating this year.
Upway, a French company selling reconditioned electric bikes, is to announce a $30 million fundraising round.
The main contributor is Korelya, Fleur Pellerin's investment fund.
Upway was founded in November 2021 and has already raised $30 million.
Upway sells reconditioned electric bikes with a one-year warranty at a price 60% lower than a new model.
The company operates in five countries
In two years, Upway has sold 20,000 bikes at an average price of 2,000 euros.
Upway aims to sell over 1 million reconditioned electric bikes a year over the next five to ten years.

Used electric bikes in complete safety with Upway 07/09/2023

The price of an electric bike is usually around 2,000 euros, even for second-hand items.
There are 25 million electric bikes in Europe.
Toussaint Wattinne, co-founder of start-up Upway, predicts that the market for second-hand electric bikes will one day reach the million mark.
Upway has partnerships with around a thousand stores.
Upway has raised 30 million euros from Sequoia Capital and Exor Seeds.
1 million electric bikes were sold in the US last year, a figure that is set to double rapidly and make the US the world's biggest market, surpassing Germany.

igytiUpway, a start-up that reconditions electric bikes. 01/06/2022

Co-founders Toussaint Wattinne and Stéphane Ficaja have chosen to take up residence in a 1,000 m2 warehouse formerly occupied by Tesla
Upway, which has just raised $25 million from Sequoia, Exor Seeds and Origins, has chosen to internalize all its operations.
In 2020, demand in France is estimated at 2 million bicycles.
The global market is expected to reach 24 million bikes by 2020.
The German market (3.7 million bikes) is the largest in Europe.
Levallois is the only site in the world for the German brand, and is also the only site that manufactures bicycles in France, 1,000 a week. Levallois has received 2.5 million euros in tax credits.
Electric bikes are made in China, and assembled in France
Cargo bikes take off in France
Since its creation, Upway has reconditioned several thousand bicycles and is aiming for sales of 10 million euros by 2022

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