Velco launches fundraising to accelerate international expansion

Velco supports urban mobility professionals in the development of their business through its connectivity solutions. Winner of the accelerator selecting the future European digital nuggets, Velco is supported by EIT Digital and Atlanpole in its fundraising and the structuring of its commercial development in Europe.

  • Velco is raising €5 million by the end of 2020 to continue its commercial development in Europe and to finance R&D for future connected products and solutions.
  • Velco is looking for investors who want to be part of the boom in urban mobility, a sector offering great opportunities, multiplied tenfold in the context of the current health crisis.

The Velco software suite is connected to 3 products integrated into bikes, scooters and motorcycles to meet the challenges of theft prevention, road safety and vehicle reliability.

The connected products (Wink Bar, Nuotrax and Onitrax) are integrated into the vehicles and feed back data which is collected and exploited via customised platforms to meet the specific needs of professionals in terms of maintenance, after-sales service, business analysis, theft and loss management, user knowledge, reporting and performance enhancement…

Since its repositioning in B2B and B2G at the beginning of 2020, new commercial contracts have enabled Velco to expand in the market for fleet management of bicycles and scooters, in OEM and in the motorcycle world. These strong players in mobility and two-wheelers trust Velco to boost their performance thanks to personalised solutions adapted to their problems.

Velco counts among its new customers the company Fluow, a subsidiary of La Poste, which operates the largest fleet of long-term rental bicycles in Europe for the Ile-de-France region. Velco’s mission: to connect part of the Véligo bike fleet by the end of 2020.

solution connected mobility

Urban mobility in Europe: a dynamic market with high potential

Urban mobility is undergoing a revolution to meet the demographic, environmental, economic, social and nowadays health challenges. Electric vehicles and connectivity have propelled the market into a new dimension, offering new services for professionals and end-users.

In France, the cycle market is growing and government support for cycling culture is increasing. The scooter market is booming with the development of the free-floating offer and the advent of MaaS, a real explosion that puts micro-mobility at the forefront of future alternatives.

The trend is confirmed on a European scale where Velco has the ambition to deploy its technology to manufacturers and operators of two-wheeler fleets in order to become a leader in connected mobility. Germany, Europe’s largest market, is a key stage in the company’s commercial development, and is the priority for this international deployment.

  • +10.1% in the French cycle market in 2019
  • +105% on the scooter market in France in 2019
  • 17 million bicycles and scooters produced in Europe in 2019
  • 3 million bicycle thefts every year in Europe

Velco’s solutions address the 3 major brakes to the use of two-wheelers: theft, road safety and vehicle reliability. Strong market dynamics and the needs of professionals and end-users promise great development prospects for Velco in Europe.

The press release can be downloaded here.

For further information, contact
Estelle Monnet – Communication Manager