Participated · Series A · Nov 2022

Tuvalum operates an online marketplace and re‑commerce service for buying, refurbishing and selling second‑hand bicycles. The company recently launched a re‑commerce line complementary to its professional-focused marketplace and added a free online bicycle appraisal service to help prevent sales of stolen or falsified bikes. Management says nearly half of sales come from abroad and the firm is prioritizing expansion into Italy and Germany while continuing growth in France. The re‑commerce line has grown by more than 300% and Tuvalum expects to close the year with turnover close to €10 million. The business model combines acquisition, purchase, refurbishment and resale of bicycles across Europe to position the company as a European benchmark in the sector. Tuvalum operates an online buy-sell marketplace for bicycles, managing a catalogue of more than 8,000 bikes. The startup was born from the Demium Startups incubation program in 2015 and was later accelerated by SeedRocket and Plug and Play. It serves Spain and Portugal and launched in France in November 2018, with plans to enter the six main European markets by 2019. The company employs 13 people and expected to exceed €2 million in bicycle sales in 2018, a 100% increase over 2017. Tuvalum intends to use new funding to improve the customer experience on its website and to accelerate user acquisition in its target countries.