CYCLE

What CYCLE does

CYCLE is a Berlin-headquartered e-bike subscription service (legally operated as CM Invest B.V., incorporated in the Netherlands) founded in 2018 that delivers serviced electric bicycles to last-mile delivery couriers and fleet operators across Europe. The company manages a fleet of 14,000+ bikes across six countries — Austria, Germany, the Netherlands, Belgium, Poland, and the UK — serving 200+ cities with a product mix that includes in-house designed cargo e-bikes (the award-winning 20FIFTY S/M/L series with adjustable wheelbase and torque sensor) and partner-sourced models (RadRunner X, Tonda X, Ebike4Delivery GEN3). Its full-service subscription bundles the vehicle with doorstep or in-shop maintenance, repairs, theft protection via hidden GPS modules (partnered with IoT Venture), and remote motor-controller software updates, differentiating it from simple bike rentals.

The business model is built on monthly subscriptions priced €109-€159 per bike, plus a Premium Protection add-on reducing deductibles and accessory rentals (extra batteries, front racks, 87L/105L soft boxes). CYCLE pursues a hybrid go-to-market: self-serve online checkout at cycle.eco for individual couriers using partner-specific referral codes, and direct enterprise sales to fleet customers. Named enterprise customers span Flink, Just Eat Takeaway, Deliveroo, Uber Eats, Domino's, Foodora, Lieferando, Żabka Jush, and ConnectBike (UK operator). CYCLE has raised approximately $11.3M / €10.3M in Series A funding led by Scania Growth Capital (East Hill Equity), with prior participation from LocalGlobe, APX, EnBW New Ventures, Founder Collective, GreenPoint Partners, EIT InnoEnergy, Visionaries Club, Third Sphere, and Techstars, plus a 7-figure EUR grant from Investitionsbank Berlin in 2024. In July 2024, the company acquired Dutch e-bike provider Ebike4Delivery to strengthen UK operations.

Name

CYCLE

Legal name

CM Invest B.V.

Website

https://cycle.eco

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

CYCLE is a Berlin-based e-bike subscription service managing 14,000+ serviced electric bicycles across six European countries for last-mile delivery couriers and enterprise fleet operators, bundling vehicles with maintenance, GPS-based theft protection, and fleet management software.

Ownership category

akta.pro rank

Product category

Last-Mile Delivery E-Bike Subscription Services

NAICS

Automotive Equipment Rental and Leasing (5321), Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Motorcycles, Bicycles & Parts (3751), Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro industry

PRIMARYTLABAGAB

Cargo Bikes & E-Cargo Bikes Rental/Leasing

Transportation & Logistics/Fleet Leasing, Rental & Management/Last-Mile & Delivery Fleet Rental/Leasing (Vans, Box Trucks, Cargo Bikes)

SECONDARYTHADAGAE

E-Bike Rentals

Travel & Hospitality/Car Rental & Mobility Services/Micromobility (Scooters, Bikes, Mopeds) Rentals

SECONDARYIMACAOAA

E-bikes & E-cargo Bikes Manufacturing

Industrials, Manufacturing & Construction/Automotive & Mobility Manufacturing/Micromobility & Light Electric Mobility Manufacturing (E-bikes/E-scooters/NEVs)

SECONDARYCRAMAHAF

Cargo & Utility Bike Retail

Consumer Products & Retail/Sporting Goods & Outdoor Retail/Cycling & Bike Retail

Keywords

• Electric bike subscription
• Last-mile delivery
• Cargo e-bike rental
• Fleet management software
• Micromobility services

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. E-Bike Subscriptions: Monthly subscription model for e-bikes including bike, maintenance, repairs, theft protection with GPS, and remote motor control. Options include all-inclusive subscription, leasing-only, and purchasing. Minimum rental term is 1 month with cancellation 24 hours before next billing date.
2. Premium Protection Add-on: Additional monthly fee reducing deductible in case of damage and theft. Covers costs to repair or replace bikes even beyond ordinary wear and tear, as long as damages are not from intentional damage or gross negligence.
3. Accessories: Additional revenue from accessories such as extra batteries, front racks, and soft boxes (105L or 87L) rented alongside bikes.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

CYCLE provides all-inclusive electric bike subscriptions for professional couriers and last-mile delivery businesses. Subscriptions bundle a utility or cargo e-bike, in-house professional maintenance and doorstep repairs, theft protection with hidden GPS tracking and remote motor control, and a customized fleet management and damage-reporting software for business customers. The service targets both individual gig couriers (via self-serve checkout) and enterprise fleets (food delivery platforms and quick commerce operators) across 200+ cities in Austria, Germany, the Netherlands, Belgium, Poland, Italy and the UK.

Product overview

CYCLE offers a subscription-based electric bike service for professional couriers and delivery riders across Europe. The product portfolio consists of in-house designed cargo e-bikes (20FIFTY series in S/M/L variants, CYCLE One) and partner-sourced models (RadRunner X, Tonda X, Ebike4Delivery GEN3). The 20FIFTY is the flagship long-tail cargo bike featuring an adjustable wheelbase, torque sensor, and premium components winning the German Design Award. All bikes are offered through all-inclusive subscription plans (starting from €99-159/month) that bundle the vehicle with maintenance, repairs, theft protection, and GPS tracking. The service model differentiates CYCLE from simple bike rentals by providing comprehensive fleet management, professional mechanics on-demand, and flexible monthly subscription terms.

Differentiator

Problem solved

Functional benefit

Brands

• 20FIFTY: Adjustable wheelbase e-cargo bike with premium components offering up to 120-150 km range, winner of German Design Award
• CYCLE One
• RadRunner X
• Tonda X
• 20FIFTY S
• 20FIFTY M
• 20FIFTY L
• CYCLE x Foodora

Products and services

• 20FIFTY S Short-wheelbase cargo e-bike from CYCLE's flagship 20FIFTY line, designed for last-mile delivery. Single speed, 26-inch cargo tyres, premium components, up to 120 km range (up to 150 km claimed). Available from €149/month through CYCLE's all-inclusive subscription.
• 20FIFTY M Medium-wheelbase cargo e-bike from the 20FIFTY line, built for everyday delivery and adaptable to different cargo needs while keeping operations smooth and efficient. Up to 120 km range. Available from €149/month via CYCLE subscription.
• 20FIFTY L Long-tail cargo e-bike from the 20FIFTY line with a torque sensor, premium components and 120 km range. Available from €159/month via CYCLE subscription.
• RadRunner X Compact and versatile fat-tyre e-bike built for delivery use, equipped with an upgraded battery offering up to 120 km range. Available from €139/month via CYCLE subscription.
• Tonda X Premium fat-tyre e-bike with hydraulic brakes and extended cargo rack, equipped with an upgraded battery offering up to 120 km range. Available from €139/month via CYCLE subscription.
• CYCLE One Standard CYCLE e-bike with 7-speed gears for efficient riding, dual front lights for safe nighttime riding and up to 90 km range. Available from €109/month via CYCLE subscription.
• Ebike4Delivery GEN3 E-bike model from the Dutch e-bike provider Ebike4Delivery, acquired by CYCLE in July 2024. Included in CYCLE's offering for last-mile delivery operations in the Netherlands and the UK.
• CYCLE All-Inclusive E-Bike Subscription The core service product of CYCLE: a monthly subscription bundling a utility or cargo e-bike, professional in-house maintenance and doorstep or in-shop repairs, theft protection with hidden GPS tracking and remote motor control, a peace-of-mind package, and customized fleet management and damage-reporting software for business customers. Includes a 60-minute maximum repair or bike-swap guarantee and regular six-week service intervals. Available to both individual couriers and enterprise fleets across Austria, Germany, the Netherlands, Belgium, Poland, Italy and the UK.

Quantifiable outcome

• Riders travel over 200 million km per year on CYCLE e-bikes
• +4 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature4 records

Partnerships

Four partnerships are on record, tiered major and core.

• Ebike4DeliverymajorStrategic or Co-development Partner · 5 July 2024CYCLE acquired Dutch e-bike provider Ebike4Delivery to enhance last-mile delivery capabilities and expand operations in the UK. The acquisition included leasing contracts, teams, and bicycles, with operational focus across multiple European countries. Ebike4Delivery GEN3 is listed as a vehicle option on CYCLE's website.
• IoT VenturecoreTechnology or IntegrationCYCLE partnered with IoT Venture to equip thousands of e-bikes with hidden GPS modules enabling real-time location tracking, historical data access, and remote controller software updates for the 20FIFTY model. During the pilot phase, over 70% of stolen e-bikes were successfully traced and secured. The partnership improved preventive maintenance metrics and fleet availability.
• FoodoramajorGTM or Marketing PartnerCYCLE and Foodora partnership provides Foodora couriers with discounted e-bike subscription rates. Couriers create a ticket in the 'eMobility' category to receive an activation code within two business days. Dedicated Foodora pickup locations in Graz, Innsbruck, Klagenfurt, Linz, Salzburg, and Vienna. Logo partnership with co-branding on CYCLE's website.
• ConnectBikecoreChannel Partner/ Reseller/ DistributorConnectBike operates CYCLE's services in London, UK. This is the exclusive operator of CYCLE e-bike delivery services in the UK market.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• VanMoof: Premium Dutch e-bike brand with built-in GPS tracking, theft-recovery service, and direct-to-consumer subscription/leasing. Comparable tech stack (GPS + theft protection) although VanMoof targets commuters rather than couriers and is currently in restructuring.
• Rad Power Bikes: North American e-bike brand whose RadRunner model is one of CYCLE's sourced subscription SKUs (RadRunner X). A potential competitor if Rad launches its own subscription service and a key supplier-dependency for CYCLE today.
• Lime: Global shared micromobility operator offering e-bikes and e-scooters across major European cities. Overlaps with CYCLE's urban e-mobility mission and shares enterprise-fleet ambitions, though Lime's dockless sharing model is structurally different from CYCLE's dedicated subscription.
• Urban Arrow: Leading European manufacturer of premium e-cargo bikes widely used by families, businesses, and last-mile delivery operators. Comparable to CYCLE because CYCLE's 20FIFTY competes in the same e-cargo category, though Urban Arrow sells rather than subscribes.

Emerging players

• Keego: Munich-based e-bike subscription startup offering flexible monthly subscriptions with bundled service for urban riders. Geographic and conceptual overlap with CYCLE in the German market, although Keego targets commuters more than delivery fleets.
• Forest: London-based shared e-bike operator providing dockless e-bike rental with sustainability focus and a profitable operating model. Adjacent competitor for urban e-bike demand in London, where CYCLE operates via ConnectBike.
• Cowboy: Belgian premium connected e-bike maker offering bikes with app-based service, theft detection, and subscription accessories. Comparable as a tech-enabled European e-bike brand, though Cowboy's commuter focus differs from CYCLE's courier base.

Direct peers

• Swapfiets: Dutch-founded monthly bike subscription service operating across multiple European countries with bundled maintenance and theft protection. Most directly comparable to CYCLE in business model (monthly subscription + in-house service) although Swapfiets targets commuters rather than couriers.
• Zoomo: Australia-origin e-bike subscription provider purpose-built for delivery couriers and gig-economy riders, with fleet software, GPS, and servicing included. Head-to-head competitor to CYCLE in the delivery-courier subscription niche.
• Cooltra: Barcelona-headquartered shared e-mobility operator (e-mopeds and e-bikes) with monthly subscription plans in Spain, Italy, Portugal and France. Closely comparable subscription model aimed at urban riders, including commercial courier use cases in some markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cycle-eco
• Instagraminstagram.com/cycle.mobility
• Xx.com/CYCLE_mobility
• Facebookfacebook.com/CYCLE.eco

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds8 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CYCLE