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

Vapaus Strikes Gold at the 2023 European Startup Prize for Mobility

Vapaus Triumphs with Benefit Bike Service: Secures Gold in 5th European Startup Prize for Mobility Among 700+ Applicants.

Vapaus’ commitment to developing and deploying innovative solutions for the mobility sector, was recognized and inspired the jury. The European Startup Prize for Mobility is a recognition to the most pioneering startups in the mobility sector across Europe.

Vapaus Achieves Remarkable Growth

Vapaus, the innovative e-mobility and digital solutions provider, has witnessed a staggering 300% increase in turnover in 2022, soaring to €18.8 million. This remarkable growth trajectory continued in 2023, with the same turnover level achieved by July, edging the company towards its breakeven point. In Finland, Vapaus’s impact is profound, serving over 1300 business customers and equipping their staff with more than 16,000 benefit bikes. This growth not only underscores Vapaus’s commitment to promoting cycling-friendly environments and transforming urban commuting but also marks the beginning of its expansion into Sweden.

In support of Vapaus’s mission, a study by the Finnish Cyclists’ Federation, released on April 14, 2023, highlights the positive influence of bike benefits on employee commuting habits in Finland. Furthermore, the European Cyclists’ Federation has estimated annual benefits of cycling in the EU, including the UK, to be up to €150 billion, considering its positive impacts on the environment, public health, and mobility systems.”

About Vapaus:

Vapaus Bikes Finland Oy, a benefit bike service company founded in 2018 with over 30 professionals, combines eMobility, digital solutions, and welfare development in its service model. Ranked 19th among Finland’s 100 fastest-growing companies, Vapaus saw a 300% turnover was €18.8 million in 2022 and turnover in Jan-Aug 2023 is €21.4 million approaching breakeven in 2023. Vapaus aims to sustain its growth both in Finland and abroad.

Read the whole artice at Vapaus.io website
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