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Upway raised $30 million in a Series B round led by Sequoia and Korelya Capital to expand its global platform for refurbished e-bikes.

Feb 17, 2025•5 months ago

Amount Raised

$30 Million

Round Type

series b

Paris

Investors

Korelya CapitalSequoia

Description

Upway, the e-bike refurbishment platform, has successfully raised $30 million during its Series B funding round. With this funding, the company aims to bolster its growth and expand into new markets, further enhancing its operations and increasing the number of available e-bikes on its platform.

Company Information

Company

Upway

Location

Paris, Texas, United States

About

Upway was founded in 2021 by Toussaint Wattinne and Stéphane Ficaja. Offering certified electric bikes from a large selection in a convenient way, Upway delivers electric bikes directly to homes at an affordable price, after a careful certification process by a team of professional mechanics. Upway offers consumers the opportunity to purchase a used electric bike under a one-year warranty – supporting a mission of sustainability, reliability, trustworthiness and mobility for the masses. Currently, the certified electric bikes are delivered to homes in just a few days, available in France, Belgium, Netherlands, Germany, and the United States, are sold via the company's own online store and offer free 14 day returns

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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