Vélogik announces new partners, eyes further European expansion

French mobile cycle maintenance and repair specialist Vélogik has announced, for the first time in its 13 year history, the opening of 25% of its share capital to two partners.

Impact-Partners, a European platform dedicated to impact investing, and SERFIM, an independent and family-run medium-sized enterprise that specialises in a variety of eco-friendly and sustainable industries have come on board as significant shareholders.

Franck Brédy, Vélogik President, explains: “The cycling market is booming, becoming more structured and condensed. We therefore need to stay ahead of the changes and innovations to become a key player on the European stage while promoting a fair and just economy with passionate men and women. We have chosen our investors for a reason: both these organisations share the same life-long values as Vélogik, advocating for equality and access to employment while also working to tackle climate issues. They are more than investors, they are partners.”

Founded in 2008, the business initially focused upon B2B customers, with bike fleet management and maintenance serviced. Today B2C clients add to a customer base which sees over 50’000 bicycles under service and maintenance management, through a team of almost 200 employees. To manage operations the company has also developed and delivered digital applications, created especially for managing bike fleets. Whilst a business first and foremost, it is also a social enterprise, caring about improving access to employment, something which sits at the heart of Vélogik’s business and operations.

With this in mind, Alexandra Mathiolon, Managing Director of SERFIM comments: “Companies must stand up and play their part in the ecological redirection and equal opportunities. Vélogik’s operations have purpose. They contribute to sustainable mobility while also creating local jobs open to the long-term unemployed who struggle to find work. We are delighted to be able to accompany them in their expansion and support their growth in a way that all our employees can be proud of”

In January of 2021 a first UK subsidiary, Motion Forward, was opened in Glasgow, as a joint venture with the charity Bike for Good.

Thomas Delalande, associate director at Impact Partners adds: “We were impressed by what they have accomplished and proud to support Franck Brédy and his team in the next stage as they continue to grow the company’s social and economic model.”

With new partners taking an equity stake, the business aims to expand, targeting growth via new subsidiaries in Italy, the Netherlands and Germany.

Digital transformation is also seen as critical attracting new talent, critical to reaching the 2026 target of 200,000 bikes under maintenance. The business also aims to train 250 people per year on its campus, recruiting 230 people via its employment programmes, including bike employability workshops helping 120 unemployed people. Currently, 30% of the company’s recruitment comes from access-to-employment programmes.

E-cargo bikes sales have boomed during the past two years, with businesses including DHL and FedEx taking on last mile delivery fleets. The largest e-cargo bike fleet in the UK is planned by Laundryheap, who announced up to 200 bikes, at a cost of £2.5 million, will be ordered after a successful trial. These fleet e-cargo bikes will require service and support just as would any commercial vehicle fleet. It’s this market which, alongside private e-mobility users, has potential to drive future growth for Vélogik.