Shared Mobility

Felyx merges with Cooltra amidst financial woes

Felyx, a company offering shared electric mopeds. They operate a dockless rental system, allowing users to locate, unlock, and ride a nearby Felyx e-moped through their mobile app, announced its merger with Cooltra, a shared electric mobility, offering both e-mopeds and e-bikes across several European cities. They operate a pay-per-minute rental system accessible through their app, allowing for flexible and convenient urban transportation. The merger aims to create a leading force in the shared e-moped market, offering a combined fleet of 28,000 vehicles across four major European markets: Spain, the Netherlands, France, and Italy.

Felyx has been experiencing increasing losses, culminating in a net loss of €16.2 million in 2022, compared to €12.3 million in 2021. This negative trend is attributed to a combination of factors, including challenging market conditions and unfavorable economic factors. This merger aims to create a stronger combined entity and navigate the competitive landscape more effectively.

“As we continually scan the market for growth opportunities in shared electric mobility, we are very excited about this particular step,” says Timo Buetefisch, CEO and co-founder of Cooltra. “Partnering with felyx is not just about expanding our territory; it’s about joining forces with a respected and accomplished company in the Netherlands and Belgium. We are looking forward to working together, combining our strengths and knowledge to move towards our common goal of becoming the leading provider of two-wheeler mobility solutions in Europe.”

“This merger marks a significant milestone for felyx in a rapidly consolidating market. Recognizing the need for a robust partner to solidify our position, we had been in discussions with Cooltra for some time and we sought a collaboration that would enhance our standing in our home markets of the Netherlands and Belgium. This collaboration also creates new business opportunities for felyx in Benelux. Cooltra, with its strong vision and proven track record, perfectly aligns with our objectives, paving the way for an exciting future as we continue to expand and innovate”, assures Daan BeckerCEO of felyx.

With this agreement, the group will offer a fleet of 28,000 vehicles, of which 16,000 are electric shared vehicles, in more than 30 cities in nine European countries. However, both companies will continue to operate under the same brands in the countries and cities where they are already present (Cooltra in Spain, Italy, France and Portugal; and felyx in the Netherlands and Belgium) but combining their experience to consolidate their position as the largest provider of shared electric bikes and mopeds in Europe. Between the two operators, they will have more than 3.5 million users and more than 50% market share. They will also have a presence in major European cities such as Barcelona, Madrid, Rome, Milan, Paris, Lisbon, Brussels, Rotterdam, and The Hague.

Users will maintain access to Cooltra and felyx vehicles through their respective apps, with an anticipated convergence in the future. This integration aims to offer customers the advantage of utilizing a larger, combined fleet. It also offers an array of services, all from a single account. This enhancement aims to improve the user experience in all cities where the companies operate.

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