BAQME completes a €1.3 million seed round to make Rotterdam the capital of the world for shared e-cargo bikes and launch its e-cargo bike subscription service

Amsterdam, 6 December 2022 – BAQME has successfully raised fresh capital through crowdfunding and a new lease facility for purchasing e-cargo bikes.  

The equity crowdfunding was backed by High Rise Ventures and several angel investors, including a significant contribution from BAQME riders. The campaign was completed on Crowdcube.  

Terberg Business Mobility is providing BAQME with a lease facility to purchase new e-cargo bikes as BAQME continues its rapid expansion strategy. 

BAQME will use the new funds to expand its rider base and launch its e-cargo bike subscription service 

BAQME expects its rider base to grow to 50,000 people next year. This year, the number of riders on BAQME’s platform has more than doubled already. With fresh funding, BAQME will focus its marketing efforts beyond its current rider demographics, targeting students and young professionals as well. The nationwide helmet rule for e-mopeds starting 1 January 2023, is widely expected to entice more people to use e-cargo bikes for all of their A to B transportation. 

Following an aggressive growth in riders, BAQME will expand to hundreds of e-cargo bikes across Rotterdam, The Hague and Ghent. This expansion will bring the world’s largest fleet of shared e-cargo bikes to Rotterdam. 

Successful crowdfunding strategy 

This recent crowdfunding campaign builds on BAQME’s brand and growing visibility in neighbouring countries. Investors from 20+ countries eagerly jumped at the chance to buy BAQME shares. This campaign follows BAQME’s debt crowdfunding campaign, which broke records by raising the maximum amount of EUR 400k in only 35 minutes after going live. That campaign was completed on Oneplanetcrowd. 

“We are extremely humbled by the support of so many wonderful investors. After completing two succesful crowdfunding campaigns, we now have a clear path for raising responsibe capital to grow BAQME. The confidence from our investors gives us the energy to continue our mission of making e-cargo bikes accessible to everyone.” 

Souren Arakelian, Founder BAQME.   

About BAQME 

BAQME is a platform for shared electric cargo bikes, on a mission to reduce short distance car trips in cities.  Since launch in 2021, BAQME has grown rapidly from 20 to over 350 shared e-cargo bikes, becoming the largest provider of dockless shared e-cargo bikes globally. Headquartered in the Netherlands, BAQME currently operates in Rotterdam, The Hague and Ghent.