Founded in 2021 and headquartered in Paris, Upway buys used e-bikes, performs a rigorous in-house 50-point refurbishment, and resells them online with a one-year warranty and home delivery. The marketplace offers more than 200 brands and 2,500 models at an average 45% discount, saving customers roughly $1,000 per bike. To date the company has refurbished and sold over 100,000 e-bikes and saw global sales double in 2025 versus 2024, with U.S. sales set to double again in 2026. Upway operates six industrial UpCenters across Europe and the United States and plans to open six more by 2027, creating a network expected to employ more than 2,000 mechanics and operations specialists by 2030. The firm’s broader goal is to refurbish one million e-bikes annually by 2030 while adding financing, insurance, maintenance, and subscription services to its offering. Environmental impact is central to its mission, with each refurbished bike cutting CO₂ emissions by up to 90% per mile compared to cars. After the latest financing, Upway has raised more than $125 million to build what it calls the backbone of circular mobility.

Total raised

$121M

Funding rounds

4

Latest round

Series C

Latest activity

Nov 2025