Bolt Bikes launches e-bike subscription platform in UK and USA

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Sydney, Australia-based startup Bolt Bikes has announced the UK and US launches of its electric bike platform designed for gig economy delivery workers.

The expansion into London and San Francisco follows a £2.1m investment round led by global mobility venture capital firm Maniv Mobility, European e-mobility firm Contrarian Ventures, individual investors and former executives of Uber and Deliveroo.

The company was founded in 2017 by Mina Nada, former Deliveroo and Mobike executive, and Michael Johnson, a former Bain & Co executive.

Bolt Bikes offers delivery couriers flexible rental subscriptions for commercial use on a weekly contract for £35.99, or rent-to-own at the end of a 12-month contract.

The platform includes the bike itself, fleet management software, financing and servicing. A battery charger, phone holder, phone USB port, secure U-Lock and safety induction are also included.

What’s more, subscribers get 24-hour access to the bike and the first week is offered as a free trial.

“Being in the food delivery industry since its inception, we saw that light electric vehicles were the real future of ‘last-mile’ logistics, yet no-one was offering the right vehicle, financing or maintenance solution,” said Nada.

“We are proud to be serving the real needs of delivery couriers while building the logistics infrastructure of the future.”

Deliveroo was announced as one of Bolt’s UK launch partners while the company has also partnered with technology platform Stuart, which specialises in sustainable last mile delivery.

By 2020, Bolt aims to increase its fleet to 10 times its current size. With a team of 20, it plans to expand across more cities in the UK, USA and Australia.