France-based electric bike (e-bike) marketplace UpWay has launched in the U.S. The move follows its recent $25 million U.S. Series A funding round, led by Sequoia Capital.
The startup, which refurbishes and resells e-bikes, will initially operate from a warehouse in New York City but will ship across the continental U.S. It intends to open a West Coast facility at a later date.
“We want to provide our customers in the U.S. with not only the largest selection of electric bikes that cater to different types of riders and interests but also the convenience and simplicity in placing and receiving an order that is hassle-free, affordable and reliable without the fear of fraud,” said CEO Toussant Wattinne (LinkedIn profile), who co-founded the company with Stéphane Ficaja.
“Our goal at UpWay is to be at the forefront of not only providing the consumer with an extensive selection of certified electric bikes from leading brands but also provide them comfort in knowing that every product carried in our warehouse has been officially certified from leading mechanics in the industry and will be ready to safely ride upon arrival,” added Wattinne, who noted that e-bike sales had spiked since the pandemic.
Since launching in 2021, the company says it has refurbished and certified more than 10,000 e-bikes in France, Belgium, Germany and the Netherlands.
UpWay offers city/hybrid, road, mountain, cargo and folding bikes e-bikes from such brands as Specialized, Cannondale, Rad Power, Gazelle, Riese & Müller and VanMoof.
It acquires these e-bikes from individual users, retailers and fleet owners, putting them through a “rigorous” inspection process conducted by professional mechanics and offering a one-year warranty.