French bicycle reconditioning specialist, Upway, is set to open a warehouse in Belgium this year following a successful fundraising campaign that secured $30 million. The announcement came on last Thursday, with plans to employ approximately 20 people in the short term.
The new warehouse will be strategically located along the Brussels-Mechelen-Antwerp axis. Upway is currently in talks with a shortlist of three potential locations, aiming to begin operations by January 1, unless otherwise indicated.
Upway plans to establish a state-of-the-art workshop at the Belgian facility, complete with a washing station and packaging line, to breathe new life into thousands of electric bikes. The company is actively recruiting a full team of lead mechanics, technicians, and operational managers. In the short term, the workforce is expected to reach 20 employees (technicians, warehouse staff, and managers), with the potential for expansion based on capacity needs.
Philippe de Schutter, Expansion Manager at Upway, highlights several advantages of the Belgian warehouse. “It brings us closer to our Belgian customers, strengthens our relationship with the Benelux ecosystem, allows us to broaden our range of refurbished electric bikes, and contributes to reducing prices,” says de Schutter. He emphasizes the significance of price reduction, noting that 56% of Belgians without electric bikes cite cost as a major obstacle.
Founded in Paris in 2021 by former Uber executives, Upway has raised a total of $60 million since its inception. The company has refurbished over 20,000 electric bikes sourced from various outlets, including bike shops (over 250 in Belgium), manufacturers, and individuals. The move to establish a presence in Belgium aligns with Upway’s commitment to expanding its market reach and enhancing its relationship with the local cycling community.
As Upway continues to grow and make strides in the reconditioned bike market, the Belgian venture marks a significant step in the company’s mission to make electric bikes more accessible and affordable for a broader audience.
