Fazua has raised a total of €15 million in a current financing round. The majority of this—€12 million—comes from the European Fund for Strategic Investments (EFSI). The remaining €3 million is being provided by UVC Partners. The UnternehmerTUM VC fund was already the lead investor in the last financing round of 6.5 million euros involved.
The e-bike market is growing, and so is FazuaWith its removable drive system for e-bikes, the Munich-based startup is already the market leader in some sectors, such as cycling. To enter new markets and expand its product range, Fazua has raised €15 million in growth financing. In addition to existing investor UVC Partners, the startup is also receiving funding from European Fund EFSI, which is managed by the European Investment Bank (EIB). This fund, with a total of €21 billion, is intended, among other things, to support companies in their start-up phase, growth, and expansion by providing venture capital.
Consistent and profitable growth
Fabian Reuter, CEO of Fazua, explains what will happen with the fresh capital:
"The capital provided by the EIB is the ideal financing instrument for us in our current business phase. In addition to the “evation” drive system, which has already been very successfully launched on the market, we can now invest even more in the expansion of our product range."
Regarding the current financing round, Benjamin Erhart from UVC Partners:
“With its consistent and profitable growth since our first investment in 2017, we are proud to double down on Fazua as it increases its footprint in the bn EUR and fast growing e-bike market.”
All focus on growth
Ambroise Fayolle, Vice President of the European Investment Bank (EIB), is certain:
"With our higher-risk financing operation for Fazua, we are closing a gap in the market for highly innovative SMEs, which need long-term growth capital without the risk of dilution. Fazua can now fully concentrate on its business growth and the development of follow-up products."
He continues:
"The project is an excellent example of the added value that the Investment Plan for Europe offers young, innovative companies. Our cooperation with Fazua, made possible by the Juncker Plan, shows how Europe can promote innovation and competitiveness."
