Yeply secures 2.5 million in seed funding to service Europe’s bicycles
Yeply is Europe’s fastest growing bike maintenance ecosystem.To date, the mobile bike service provider from Finland has expanded the service to 73 locations in Germany, Finland and Holland. Now the expansion course is going into the next round. So Yeply was able to close a 2.5 million euro seed round led by Inventure, Wolt’s first investor, and with participation from Akasol founder Sven Schulz’s investment company Summiteer. With the investment, Wolt’s director of international expansion, Tony Honkanen, joins Gorilla’s COO & co-founder Felix Chrobog on the executive board.
In doing so, Yeply is taking a revolutionary approach to an industry that has changed little since the invention of the bicycle. Compared to small repair shops, Yeply’s mobile vehicles meet everyday cyclists and professional fleets at centralized locations. Rather than just focusing on one-off repairs, Yeply services bikes on an efficient production line, handling preventive maintenance and collecting repair and end-user data for manufacturers along the way.
„Cycling is key to solving important global challenges like climate change, urbanization and personal well-being. Every broken bike we take out of storage and put on the road can create a better world for our children – Yeply is the Formula 1 pit stop that keeps you riding“, reports Antti Kansälä, CEO & Co-Founder Yeply.
„The world is at a turning point in every respect. Rising oil and gasoline prices once again underscore the importance of a climate-friendly lifestyle. The bicycle is an enormously important enabler here.“ Antti Känsäla
The quick commerce trend and mobile delivery fleets are massively driving B2B demand for bicycle repairs
A key growth driver is Europe’s large „last-mile“ delivery services, which have raised hundreds of millions of euros in investor funding, relying on the power of e-bikes. Through partnerships with Q-Commerce providers like Flink and Wolt, Yeply maintains fleets of bikes outside their operations centers before couriers leave for deliveries. „As we saw with our investment in Wolt, instant grocery delivery has been one of the biggest opportunities in recent years. Yeply’s pan-European service network handles large bike fleets with ease thanks to a digital focus that allows Yeply to operate efficiently, scale quickly, and gather big data insights that benefit all partners,“ says Kevin Lösch of Inventure.
E-bikes provide a groundbreaking turning point
„E-commerce and the e-bike boom are opening up unprecedented digital opportunities for the bicycle industry. Together with our innovative partners, we are shaping the future of bicycle owner support across the entire lifecycle.“ With the financing, Yeply will further expand the development of its digital tools for customers, partners and fleet relationships in a service-oriented manner and expand into new markets after Finland, Germany and the Netherlands in 2022.With the financing, Yeply will further expand the development of its digital tools for customers, partners and fleet relationships in a service-oriented manner and expand into new markets after Finland, Germany and the Netherlands in 2022.