Vapaus, the Finnish pioneer in employee bike benefits, has successfully secured EUR 10 million in a Series A funding round. This equity injection will fuel the company’s international expansion, advance its software development and platform automation, and drive the growth of its innovative PreCycled concept aimed at the second-hand bicycle market.
Vapaus has grown sixfold in two years, has become one of the fastest-growing companies in Finland and won gold in the European Startup Prize for Mobility 2023.
The investors behind the funding are Shift4Good as the lead investor, Tesi (officially Finnish Industry Investment Ltd) together with European Investment Bank’s co-investment facility EGF and SuperHero Capital.
“Sustainable mobility is at the heart of Vapaus. Cycling is an important part of future mobility and with electrification the role of bicycle is growing and diversifying globally. Our offering combines mobility, digital solutions and welfare development in an interesting way. We are happy to have a combination of international and Finnish investors on board to support our growth”, says Tero Era, CEO of Vapaus.
Read the full news on the Vapaus website
The image in the article is taken from the Vapaus webpage.
Contacts
Vapaus
Tero Era, CEO, +358 50 541 6337, tero.era@vapaus.io
About Vapaus
Vapaus Bikes Finland Oy is at the forefront of sustainable mobility services and has been a pioneer in the Employee Benefit Bikes sector since late 2020. Vapaus boasts a mature and scalable business model, evident in its remarkable growth trajectory from €4.5 million in net revenues in 2021 to an impressive €30+ million in 2023. Vapaus has been ranked among Finland’s fastest growing companies and won gold in the European Startup Prize for Mobility 2023.
Vapaus has successfully automated the entire process of employee benefit bikes through its technology platform covering payroll, invoicing, logistics, insurance, and financing. Vapaus is focusing on international expansion, to first penetrate the Swedish market, further enhance platform automation, and catalyse a transformative shift in the financing model, enhancing the overall employer experience. www.vapaus.io