Upway Raises $60M To Expand Refurbished E-Bike Platform

Founded in 2021, Upway operates internationally, combining industrial expertise, proprietary technology and a circular-economy approach. The company has refurbished and sold over 100,000 e-bikes and aims to return more than one million to the road by 2030. Its offerings include financing, insurance, maintenance, and subscription services, all designed to extend the life of e-bikes and make sustainable mobility widely accessible.

Co-founders Stéphane Ficaja and Toussaint Wattinne emphasize that Upway was built on the belief that sustainable light mobility depends on a circular model where reusing and refurbishing e-bikes is key to reducing waste and maximizing accessibility.

We’ve built a strong industrial and technological foundation to give electric bikes a second life with the same quality and safety standards as new ones. We want to prove that performance, impact, and sustainable profitability can go hand in hand.

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Upway buys used e-bikes, refurbishes them in-house to strict quality standards, and sells them online with home delivery and a one-year warranty. Its catalogue features over 200 brands and 2,500 models, typically priced around 45% below new often saving buyers more than €1,000 per bike. Each unit undergoes a 50-point inspection by trained mechanics.

Refurbished e-bikes provide a greener alternative to short car trips, cutting CO₂ emissions by up to 90% per kilometre, keeping thousands of bikes out of landfill, and supporting a circular economy. Riding an e-bike about 15 km a day can also improve health, lowering the risk of heart attacks by 40% and helping combat obesity and air pollution.

With its new funding, Upway plans to accelerate industrial and digital growth by opening additional UpCenters in Europe and North America. The investment will also enable the rollout of new digital services, including financing, insurance, maintenance, and subscription options, making electric biking simpler, more affordable, and more accessible to a wider audience.

About Upway

Upway is building the largest platform for reconditioned e-bikes, making electric mobility more affordable and sustainable. By refurbishing and reselling high-quality e-bikes, Upway helps reduce waste, extend product life and accelerate the shift toward a future where e-bikes replace cars as the preferred mode of urban transport.