Turnover: 6.561 million EUR (2022)

Country: France

Specialist in eclectic bike reconditioning

News

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 United States last year, a figure that is set to double rapidly and make the U.S. 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, and Levallois benefits from 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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