Urban mobility is increasingly shifting towards sustainable alternatives, with subscription-based electric bike services gaining traction. Dance, a company offering e-bike and e-moped subscriptions, has secured €12 million in equity and debt funding. This latest investment aims to support the company’s ongoing expansion and enhance its services in key European cities. Dance’s business model focuses on providing users with a hassle-free and flexible transportation solution tailored for urban environments.
Earlier investments in Dance have contributed to the company’s steady growth, enabling it to reach over 10,000 customers and partner with more than 80 corporate clients. The company, launched in 2020 by SoundCloud founders Eric Quidenus-Wahlforss and Alexander Ljung alongside Jimdo’s co-founder Christian Springub, has consistently raised capital to reinforce its market position. Compared to previous funding rounds, which focused on early-stage growth, this new investment brings the company closer to achieving full-year EBITDA profitability in 2025.
Who Are the New Investors?
Among the new equity investors are Elemental, a Berlin-based sustainable lifestyle investor, as well as tech industry figures Uli Schöberl from Apple (NASDAQ:AAPL) and Piotr Brzezinski from Fabric London. Additionally, the debt facility is backed by Paris-based Smart Lenders Asset Management. This funding structure provides Dance with non-dilutive financing to sustain its expansion.
Smart Lenders Asset Management sees potential in Dance’s financial performance and market strategy. Erich Bonnet, CEO of Smart Lenders AM, stated:
“The type of financing we’re providing is typically reserved for larger players in the fintech industry. At Smart Lenders AM, we value innovations that deliver results, and Dance is a great example. Their strong financial performance and profitability across markets made us eager to be part of their journey.”
How Will the Funding Be Utilized?
The newly acquired funds will be directed towards scaling Dance’s fleet, improving hardware and software, and optimizing customer service. The company aims to enhance user experience while continuing to provide a convenient service in major cities like Paris, Berlin, Hamburg, and Munich.
Eric Quidenus-Wahlforss, Founder and CEO of Dance, emphasized the company’s mission to improve urban mobility:
“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.”
Dance’s service model prioritizes ease of use, offering a subscription-based alternative to traditional bike ownership. As cities seek cleaner transportation options, demand for flexible electric mobility solutions continues to rise. Dance aims to position itself as a key player in this transition by expanding its fleet and improving operational efficiency.
Subscription-based mobility solutions have gained popularity as more consumers opt for flexible, commitment-free transportation models. Dance’s latest funding round underscores investor confidence in this growing sector. The company’s focus on sustainability and convenience aligns with broader urban mobility trends favoring shared and electric transport services. While competition exists in the sector, Dance’s approach to full-service subscriptions, including maintenance and support, could differentiate it from competitors.
