Image credits: SMAFO
SMAFO, a Paderborn, Germany-based company that offers an e-bike subscription service, announced that it has secured a seven-figure investment from Stuttgart investment company Engelhardt Kaupp Kiefer & Co. The private equity firm says the funds will open up new growth prospects for the provider of smart e-bikes.
E-bikes are one of the largest growing markets. The industry expects to sell up to 130M bicycles with electric assistance worldwide by the end of 2023. The low threshold and simplicity of the offers will be central, says the company.
SMAFO: What you need to know
Sven-Ulrik Schneider and André Thiele founded SMAFO in 2018 with the idea that ‘personal mobility should be as inexpensive and sustainable as possible.’
“We know that the simplicity of our product inspires people to cycle more. Our motivation is to continually think about this topic in a new and contemporary way,” says Sven-Ulrik Schneider, one of the founders and managing directors of SMAFO GmbH.
In November 2018, the company became part of the accelerator programme of the Founders Foundation and started an e-bike subscription offer in Paderborn. In 2020, SMAFO began selling its e-bikes in addition to the e-bike subscription.
With the combination of e-bike and bookable digital services in the subscription model, SMAFO offers a mobility service that promises customers to take care of everything.
SMAFO Connect and, optionally with Connect+, Care includes an insurance package, cover letter, replacement service, GPS tracking, digital lock, digital service booklet, ride history, evaluations, and statistics.
“This gives us as a company the opportunity to monetise along the entire value chain, while at the same time constantly working on optimising the products and increasing efficiency,” says the company.
The SMAFO 3 is now available for sale at €1,999.00 in two frame models – Classic and Wave.
ENGELHARDT KAUPP KIEFER & Co: What you need to know
ENGELHARDT KAUPP KIEFER & Co. is an early-growth investor from Stuttgart with a track record of more than 20 years. The company focuses on small, technology-oriented companies with a proven business model and good growth prospects.
“We look forward to working with the SMAFO team, who not only convinced us with their expertise in content but also with their passion for their vision,” says Roman Loch, Managing Director of ENGELHARDT KAUPP KIEFER & Co.
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