Whizz raises $3.4 million

E-bike subscription startup Whizz has raised $3.4 million from Joint Journey, TMT Investments, and a number of angel investors.

The NY-based startup targets last-mile delivery workers with an offering that includes the bike, maintenance, and accessories. Whizz offers additional services such as storage, and riders can also purchase a protection plan for $29/mo that has some coverage against theft and damage. After 12 months, riders own the bike.

Whizz claims that 2,000 delivery workers are already using its bikes to carry out deliveries for platforms like Uber Eats, Doordash and Grubhub.