Amsterdam-based felyx, a shared e-moped solutions company, on Tuesday, announced the merger with the Spanish company Cooltra.
Based out of Barcelona, Cooltra was founded in 2006 to offer more sustainable two-wheeled mobility to tourists and residents alike.
In a few years, Cooltra saw significant expansion, going from 50 bikes on rent and one office in Barcelona to a fleet of 21,000 vehicles, over 100 rental outlets across Europe, and more than 400 employees.
In addition to short- and long-term motorbike rentals, Cooltra currently offers corporate rentals, fleet management for companies and public institutions, and a new public bike service for city councils.
“As we continually scan the market for growth opportunities in shared electric mobility, we are very excited about this particular step,” says Timo Buetefisch, CEO and co-founder of Cooltra.
“Partnering with felyx is not just about expanding our territory; it’s about joining forces with a respected and accomplished company in the Netherlands and Belgium. We are looking forward to working together, combining our strengths and knowledge to move towards our common goal of becoming the leading provider of two-wheeler mobility solutions in Europe.”
The Merger
However, both companies will continue to offer their services under their brand names and remain active in current cities (Cooltra in Spain, Italy, France, and Portugal; and felyx in the Netherlands and Belgium).
Through this merger, felyx will continue to offer its service in Dutch and Belgian cities, and together, parties will serve Europe’s four largest markets:
- Spain with 7.9 million rides per year
- The Netherlands with 7.3 million
- France with 4.2 million
- Italy with 3.8 million rides
With this agreement, the group will offer a fleet of 28,000 vehicles, of which 16,000 are electric shared vehicles, in more than 30 cities in nine European countries.
The two operators will have over 3.5 million users, more than 50% market share, and a presence in major European cities such as Barcelona, Madrid, Rome, Milan, Paris, Lisbon, Brussels, Rotterdam, and The Hague.
felyx: Providing sustainable alternative transportation
Founded in 2017 by Quinten Selhorst and Maarten Poot, felyx claims to be reshaping urban mobility by offering sustainable and efficient transportation to all – a shared e-moped solution.
felyx aims to link people through convenient, environmentally friendly, and shared riders, giving everyone the freedom to move around in a more green urban environment and make the city more livable
With a fleet of over 6,000 electric mopeds, the company operates in over 13 cities and provides service to more than 1 million registered users.
Currently, felyx is dominating the Benelux market in terms of fleet size. And the decision to sell its German operations comes after the company decided to focus on expanding throughout Benelux.
“This merger marks a significant milestone for felyx in a rapidly consolidating market. Recognising the need for a robust partner to solidify our position, we had been in discussions with Cooltra for some time and we sought a collaboration that would enhance our standing in our home markets of the Netherlands and Belgium. This collaboration also creates new business opportunities for felyx in the Benelux. Cooltra, with its strong vision and proven track record, perfectly aligns with our objectives, paving the way for an exciting future as we continue to expand and innovate”, assures Daan Becker, CEO of felyx.
Merger or acquisition?
The merger announcement comes a year after the Dutch company sold its German operations to the Berlin-based Emmy, a subsidiary of GoTo Global.
Although the press release described it as a merger, it is likely a takeover given felyx’s struggles to gain market share and incurred losses, reports FD.nl
“Felyx becomes part of Cooltra. It is important that this guarantees the continuity of Felyx,” says Maarten Strijers, Financial Director of Felyx, to fd.nl.
In 2021, the Dutch startup suffered a loss of €12M, followed by €16M in 2022. In 2023, the company witnessed a decline in demand for shared scooters.
Additionally, Felyx failed to obtain a permit from the municipality of Amsterdam last month, as a part of the City of Amsterdam’s new partial scooter license.
Consequently, Check, GO Sharing, and BAQME will be deploying 1,200 e-bikes and e-cargoes.
These shared vehicles will be strategically spread across various neighbourhoods including South East, New West, and North, aiming to provide accessibility to all corners of the city.
Over the past two years, the shared mobility landscape has experienced tremendous growth, with nearly 5,000 shared cars, bikes, and scooters now available.
Read the orginal article: https://siliconcanals.com/news/startups/amsterdams-felyx-merges-with-cooltra/
