Finnish employee bicycle benefit pioneer Vapaus completes a EUR 10 million Series A round
Helsinki-based service provider Vapaus has raised EUR 10 million in growth funding to internationally expand its employee cycling benefit service. The funds will also be used for software development, and the broadening of its PreCycled market concept of second-hand bicycles. Vapaus has experienced rapid growth over the past two years, emerging as one of the fastest-growing companies in Finland.
The lead investor is Shift4Good, with operations in Paris and Singapore. Other investors are Superhero Capital and Tesi together with European Investment Bank’s (EIB) EGF co-investment facility. Tesi and EIB co-created the EGF programme and Tesi manages it.
“Interest in employee cycling is on the rise in Finland and across Europe: lightweight urban mobility is already a megatrend, supported by societal incentives and its positive impacts on health and the environment. Vapaus has demonstrated strong expertise in customer-driven operations, revenue growth and in developing a competitive and scalable service concept. These are the reasons why we are pleased to support clean transition via employee cycling together with Vapaus,” says Heli Kerminen, Director on Tesi’s Venture Capital team.
Read more:
Press release by Vapaus, 15 August 2024
Additional information:
Heli Kerminen, Director, Venture Capital Investments
heli.kerminen@tesi.fi
+358 40 077 2833
