Berlin-based startup Dance, which offers e-bike and moped subscriptions, has raised €12 million in equity and debt funding to develop its hardware and software. The round came from Elemental and Smart Lender Asset Management.
- Founded in 2020 by Eric Quidenus-Wahlforss, Alexander Ljung, and Christian Springub, Dance is an e-mobility company offering a subscription-based service for electric bikes and mopeds, making sustainable urban transport hassle-free.
- The startup is available in Berlin, Hamburg, Munich, and Paris, offering a subscription-based service for electric bikes and mopeds. With over 10,000 customers and 80+ corporate clients, users pay a fixed monthly fee for an all-inclusive package that includes maintenance, theft protection, and ride tracking via the Dance app.
Details of the deal
- Paris-based Smart Lender Asset Management is providing the asset-backed debt facility, while new equity investors include Berlin-based sustainability and lifestyle investor Elemental. Business angels Uli Schöberl and Piotr Brzezinski also participated in the round.
“We are looking forward to working with Dance. The type of financing we’re providing is typically reserved for larger players in the fintech industry. Their strong financial performance and profitability across markets made us eager to be part of their journey," claims Erich Bonnet, CEO of Smart Lenders AM.
- With the fresh funding, Dance will develop its hardware and software, expand its fleet, and scale operations across Berlin, Hamburg, Munich, and Paris.
- The funds will also support improvements in service offerings, furthering Dance's mission to provide sustainable, hassle-free urban mobility and create more livable cities.
“We believe cities deserve better transportation options. With this new investment, we will continue to scale our fleet and operations while refining our hardware, software, and service to make clean mobility more accessible for urban residents," founder and CEO of Dance, Eric Quidenus-Wahlforss, commented.
