E-bike subscription firm Zoomo has just this week raised another $12m to fund expansion. The Australian start-up, initially known as Bolt Bikes, has up until now targeted individual couriers working in the gig economy, but says it is increasingly hoping to provide firms with entire fleets.
Zoomo arrived in the UK late in 2019 with an e-bike it claimed was “the fastest vehicle for last mile delivery".
For £35.99 a week, you could get an e-bike with plenty of battery capacity, a high-security lock, integrated light and front and rear racks for making deliveries, without making any long-term commitment.
Zoomo was co-founded by former Deliveroo executive Mina Nada in 2017, and his former company also got on board as a UK launch partner.
It’s a nice idea and fills an obvious niche. The routes to expansion are fairly obvious too.
Commenting on the latest round of funding to Business Leader, Nada said: “We initially built our products to service the demands of gig workers in the food delivery industry.
“Their expectations for quality commercial vehicles, on-demand service, flexible financing and tech enabled security features spurred us to innovate.
“We’re now seeing enterprises and fleet managers benefiting from the platform we have built. Enterprise fleet managers looking for clean and efficient vehicles are choosing us.”
Zoomo’s UK website currently offers five models of e-bike for individuals, including the firm’s own-brand Zero and Sport, plus a version of the Rad Power RadRunner. Prices range from £40-50 a week.
The firm also offers a wider array of electric vehicles for businesses. These range from e-bikes with delivery boxes to larger e-trikes which have been used by DHL, among others.
In addition to this, Zoomo says it will work with businesses to offer e-bikes to employees who wish to cycle commute.