Meet Upway, a French startup that is building a marketplace for second-hand electric bikes. The startup just raised a $5.7 million (€5 million) seed round from Sequoia Capital and Global Founders Capital.
If you’re familiar with the world of online marketplaces for cars, Upway will sound familiar to you as well. The company buys electric bikes from both customers and companies. They check them and repair them in case something is broken. After that, Upway lists and sells the electric bikes on its website.
Right now, the startup has a warehouse in Gennevilliers near Paris. A team of five repairpersons check each bike that arrives with a list of 20 different tests. Upway can …
