Upway Raises $30 Million Series B Funding 

Upway is an e-bike marketplace that offers an eco-friendly alternative to traditional bikes and vehicles. Their carefully curated inventory consists of top brands, ensuring that customers can choose from a wide range of options that suit their specific needs and preferences. For people looking to sell their e-bikes, Upway offers a simplified process that makes it easy to connect with potential buyers.

Upway has raised a $30 million Series B investment led by Korelya Capital. “E-Bikes rapid penetration represents a pivotal shift towards clean mobility, benefiting both urban and rural areas. We foresee that a streamlined, circular, and affordable ecosystem would propel this market’s growth and magnify its positive impact,” said Paul Degueuse, Partner at Korelya Capital. “In such a fast-growing market and with tens of thousands of refurbished e-bikes already sold, Upway stands out as the emerging global category leader. We are proud to back Upway and its visionary team leading the charge of this revolution.” In total, Upway has raised $60 million till that moment.

Upway, Gennevilliers, Ile-de-France, France, was founded in 2019 by Stephane Ficaja and Toussaint Wattinne. “Since our launch two years ago and our U.S. launch this March, we have been on a continuous mission to provide our customers with an unparalleled selection of certified electric bikes from leading brands,” said Toussaint Wattinne, CEO and Co-Founder of Upway. “We are excited to announce this latest round of funding, amidst a tough economic market, proving the rise of e-bikes as an alternative transportation method. We’re incredibly lucky to have partnered with investors like Korelya and Sequoia who believe in us. 2023 was a very important year for us and looking ahead to 2024, we will continue to be the leading e-bike marketplace, furthering our presence in the United States and across the globe.”

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