VanMoof raises $13.5 million

Dutch electric bike company VanMoof has raised $13.5 million from Balderton Capital and SINBON Electronics, the Taiwan-based electronics manufacturer that is its bike assembly partner.

VanMoof was founded in 2009 by Taco and Ties Carlier, two Dutch brothers with a vision of the perfect city bike. Ten years later, their high-tech feature-rich e-bikes are ridden worldwide by a community of over 120,000 riders. VanMoof brand stores can be found in Amsterdam, Berlin, London, New York, Paris, San Francisco, Seattle, Taipei, and Tokyo, with riders across the globe buying online.

The company offers an end-to-end solution from design and production to sales and service. In terms of protection, shoppers have two choices: Peace of Mind Theft Defence and Peace of Mind Maintenance. The former guarantees that VanMoof will recover a customer’s bike in the event it gets stolen. The customer reports the stolen bike via the app and VanMoof utilizes its integrated location tracking tech to try and recover the bike and if it is unsuccessful, it will replace it with a bike of the same or better age and condition. The latter is an all-inclusive bike service plan that ensures VanMoof fixes the bike in their brand stores or through their mobile Bike Doctors for free. For customers living outside of supported cities, VanMoof will cover the costs of shipping bikes to and from the nearest service location.

“VanMoof produces a category-leading product in a rapidly growing market that is changing the world for the better. We believe that the quality, community, and experience of VanMoof will make them a household name from Tokyo to Berlin. Taco and Ties have created a very special company that builds on a rich Dutch bicycling tradition, and carries it into the future. Tim Bunting, myself, and the entire team at Balderton are thankful to join the ride.” – Colin Hanna, Principal at Balderton.