Vapaus Raises EUR 10 Million Series A Funding to Accelerate Global Expansion of Employee Bike Benefits

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

Transport and Logistic Services of Saudi Arabia delegation visit to Finland – Recap

On a sunny day in Helsinki, the Finnish Intelligent Transportation Association had the privilege of hosting a distinguished delegation from Saudi Arabia, led by His Excellency Eng. Saleh Aljasser, Minister of Transport for the Ministry of Transport and Logistic Services. The event took place at the historic Katajanokka Hotel chapel and featured a series of insightful presentations by leading experts in electrification, transportation, and sustainable mobility.

Welcome Address by Marko Forsblom, CEO, ITS Finland

Marko Forsblom kicked off the event with a warm welcome, setting a collaborative tone and emphasizing the importance of international cooperation in advancing transportation technologies.

Greetings from Saudi Arabia by H.E. Eng. Saleh Aljasser

His Excellency Eng. Saleh Aljasser conveyed greetings from Saudi Arabia and highlighted the Kingdom’s ongoing efforts and initiatives to transform its transportation infrastructure, aiming for greater sustainability and efficiency.

Elias Pöyry, Co-Founder and CBDO of Virta Global
Digital EV charging platform as a prerequisite for sustainable mobility

Elias Pöyry presented Virta Global’s innovative digital EV charging platform, underscoring its crucial role in achieving sustainable mobility. His insights into how digital solutions can drive the adoption of electric vehicles were particularly enlightening.
See the presentation:

Digital EV charging platform as a prerequisite for sustainable mobility

 

Tommi Liuska, CSO, Kempower Oyj
The world’s most desired EV fast charging solutions for everyone, everywhere

Tommi Liuska showcased Kempower Oyj’s advanced EV fast charging solutions, which aim to make EV charging accessible to everyone, everywhere. The presentation highlighted the technological advancements and user-friendly designs that make these solutions highly desirable.

See the presentation:

The world’s most desired EV fast charging solutions for everyone, everywhere

Mikko Ampuja, Founder, Vapaus
Transforming urban mobility for good with cycling

Mikko Ampuja introduced Vapaus’s vision for transforming urban mobility through cycling. His presentation focused on the benefits of integrating cycling into urban transport systems to promote sustainability and improve quality of life.
See the presentation:
Transforming urban mobility for good with cycling

 

Ian Sacs, P.E. Market manager, Smart Mobility, Ramboll
Developing smart and sustainable cities

Ian Sacs discussed the development of smart and sustainable cities, providing a comprehensive overview of how intelligent mobility solutions can enhance urban living and reduce environmental impacts.
See the presentation:
Developing smart and sustainable cities

Janne Lautanala, Chief Ecosystem and Technology Officer, Fintraffic Driving sustainability with traffic data and service ecosystems

Fintraffic

Janne Lautanala elaborated on how Fintraffic Ltd leverages traffic data and service ecosystems to drive sustainability in transportation. His talk highlighted the importance of data-driven approaches in managing and optimizing traffic flow.
See the presentation:

Driving sustainability with traffic data and service ecosystems

Johanna Kuismin, Head of operational development, Fintraffic Ltd
Digirail -Digitalizing Finnish railways

DigiRail logo

Johanna Kuismin presented the Digirail project, which focuses on the digitalization of Finnish railways. She explained how digital technologies are being used to improve efficiency, safety, and passenger experience in the rail sector.
See the presentation:
Digirail -Digitalizing Finnish railways

Christoph Krause, Development and Sales Manager, Skoda Transtech
Smart Trams for smartest cities

Christoph Krause concluded the presentations by introducing Skoda Transtech Ltd’s smart trams, designed for the smartest cities. His vision of integrating advanced technologies into tram systems was well received.
See the presentation:
Smart Trams for smartest cities

Read the whole recap from ITS Finland webpage

When Europe discovered Finnish mobility innovation…

The European Startup Prize for Mobility (EUSP) doesn’t seem to get enough of Finland these days. The Prize brings together EU institutions, multinational companies, national authorities, and philanthropists to jointly scout, rank, and boost Europe’s most promising clean mobility startups. In its 5th edition, the Prize recognized Finnish Vapaus among its Gold winners, a second time for Finland, this time for the innovative bike company.

European Startup Prize 5th edition Final Ceremony from Sobovitz Dan on Vimeo.

The winning startups were awarded generously: the Prize included major visibility and media coverage, access to an acceleration programme, mentoring, investment and partnership opportunities, and *drum roll* an European Tour to showcase the winning solution.

Shortly after the Award Ceremony in the European Parliament in Brussels, the winning startups travelled to Lisbon, Lucerne, and Helsinki. As the EUSP was one of Slush 2023 partners, the delegation came to present the individual contributions of the winning startups, as well as that of the entire Prize’s ecosystem. They also came to discover what Finland has to offer when it comes to clean mobility innovation (spoiler alert: a lot).

EUSP event video from Sobovitz Dan on Vimeo.

 
On the margins of Slush, Vapaus and other winners even recorded in a cosy Helsinki studio the ‘What were they thinking?’ podcast, featuring the stories of the winning startups from all across Europe. Episode 1 : Mikko 🇫🇮 • Podcast • What were they thinking? (podcastics.com)

 

What’s next? EUSP is now building its ecosystem for the upcoming 6th edition launching  in November in Monaco under the patronage of Prince Albert II. It means, companies and possible sponsors who wish to take part in this fast-paced innovation ecosystem, should hurry and ask to join. Startups who wish to apply should wait only a few more months as registration will open on November 13th 2024. The final ceremony and winners will be announced early 2025. “For Vapaus, the journey has been remarkable. I’ve always known we were onto something special, but facing such strong competition, I have to admit, I had my doubts,” says Mikko Ampuja, the founder of Vapaus. Despite these doubts, Vapaus emerged victorious, securing a gold award alongside three other winners (RailWai, Stellar, and C2A Security) after three rounds of evaluations. “Winning this competition has opened several doors for us in the European market. It serves as a seal of quality and approval. Our brand may not yet be a household name, but mentioning our EUSP gold win instantly grabs the attention of customers, investors, and the media,” continues Mikko.
 

Testimonial: Vapaus – Top 10 winner 2023 from Sobovitz Dan on Vimeo.

Dan Sobovitz, Managing Director of the European Startup Prize for Mobility, explains: “The EUSP was created to identify, rank, and boost Europe’s most promising clean mobility startups from all over Europe. Last year, we evaluated a record of over 700 startup applications using a rigorous methodology developed by the Boston Consulting Group and Via ID. Applicants were assessed by a cohort of independent evaluators on their written applications and the Top 50 were then interviewed by a professional jury. 

More importantly, the Prize winners and partners are already embarking into synergies which will boost such innovation which is so needed. That’s what the Prize is all about”. The winners indeed enjoy the full acceleration programme but even for those who don’t necessarily win, applying to the Prize puts them on the radar of all the partners for potential collaboration!

Stay updated by following the EUSP on LinkedIn, Facebook, or X. Vapaus from Finland has clinched the Gold at EUSP 2023. Next year, it could be you!