VelyVelo (HEC Program) raises 4M€ to deploy its electric bike leasing service in France and Europe

Created in 2017 by Asmaa Chakil Alaoui, Jamil El Garti and Othmane Razine, VelyVelo has become, in four years, a key stakeholder in its domain. To continue its development, the company, part of HEC Program at STATION F, has just announced a 4M€ raise with Via ID, a startup accelerator specializing in new sustainable mobility solutions, Lord Invest and Tiresias Angels. Historical investors such as Afrimobility, Incepto and business angels have also been involved in this round.

VelyVelo is a leading company in electric bike leasing and expert in managing electric bike fleets for delivery professionals such as Gorillas, Cajoo, Flink, Coursier.fr, Just Eat, Deliveroo, Uber Eats among other customers. VelyVelo is already implanted in Paris, Lyon, Lille, Bordeaux and Marseille. This fundraising will help the company to extend its presence in France, but also in Europe, starting with Spain and Portugal. To do so, VelyVelo needs to recruit to reinforce its operational and technical teams, develop cargo bikes and even more connected bikes and upgrade its fleet management application.

“Our vision is clear! We want to reinforce our leading position on the market as electric bike fleets designer and administrator for delivery professionals. Since the lock-down, everything has been accelerated for VelyVelo to equip cyclo logistics actors”, explains Asmaa Chakir Alaoui, CEO of VelyVelo.

With 4.000 bikes in circulation for the moment, VelyVelo generated 2.6M€ revenue in 2021.