VelyVelo x NCI / CDG Invest / MTF

With a turnover of around €5 million, VelyVelo confirms its growth ambitions by inviting investment funds NCI via its NCITY fund dedicated to start-ups in the city of tomorrow, the corporate venture CDG Invest and the family office MouvemenT & Finance to its capital in order to finance an organic growth strategy in France and Europe. The company raises €6 million (with an open pocket of €1 million) and a financing amount of up to €13 million with debt financing.

Founded in 2017 with a start of marketing in 2018 under the leadership of Asmaa Chakir Alaoui, Jamil el Gartiet Othman Razine, VelyVelo is the specialist in the decarbonization of last-mile urban freight by offering an innovative integrated cyclo-logistics offer by providing i. internally designated bicycles and tricycles that meet the triple specifications: reliability, robustness and repairability, ii. an internalized maintenance service offering with trained technicians and, iii. fleet management software.

Recognized for its impact on reducing the carbon footprint, the company serves a diverse clientele, including food delivery giants such as Uber Eats, Deliveroo, retailers such as Monoprix, and parcel services such as UPS. This varied and demanding clientele is a testament to VelyVelo’s ability to meet the highest standards of the sustainable delivery market. Orchestrated by the PAX Corporate Finance teams, the competitive process attracted interest from local and national funds, corporate ventures and family offices. It is the alignment of vision between VelyVelo’s management and the investment funds NCI, CDG Invest via its 212Founders program and MouvemenT & Finance that enabled this syndication to succeed.

In a sector that has experienced very strong growth with the arrival in force of Quick Commerce players (Getir, Gorillaz, Flink, or Freechti …) then a strong contraction of the market following the departure of players, VelyVelo first positioned itself as a growth catalyst for these players and then adapted to market developments by offering the best bikes to urban freight players for customers ranging from self-employed entrepreneurs to meal delivery giants and parcel delivery players.

The operation also strengthens VelyVelo’s local character by opening other medium-sized cities while developing the offer towards new, more innovative and more competitive bikes. This local model and the recurring turnover attracted the pool of investors. “We believe that VelyVelo has all the assets to become one of the leaders in the cycle logistics market, to become a major player on a regional, national and European scale and to present itself as a credible consolidator in this growing market,” say the new entrants.

“Cycle logistics is a future challenge for urban delivery offering an innovative, sustainable and economical approach that meets the growing needs of brands and consumers. This fundraising comes at a decisive moment in our development and demonstrates significant confidence in our ability to be the leader in the electric utility bicycle leasing market,” says Asmaa Chakir Alaoui, co-founder and CEO of VelyVelo.
Asmaa CHAKIR ALAOUI, President and co-founder of VelyVelo “We are proud to open our capital to this pool of diversified investors composed of a VC specialized in mobility, a Corporate Venture and a Family office who share our vision and who will allow us to reach a new milestone to successfully carry out our strategic plan. A true spearhead of the decarbonization of urban logistics, VelyVelo offers to rely on robust offers to meet their last-mile logistics challenges and benefit from quality support at all times.”