28 Apr 20

Muvo expands e-bike fleet, supports Colombia health sector mobility

Due to local quarantines from the Coronavirus (COVID-19) pandemic drastically reducing activity in Colombia, local micro-mobility startup Muvo has had to reinvent itself amidst its expansion plan, according to CEO Daniel Otero.

The company, which operates in the cities of Bogotá and Medellin, is currently supporting with the mobilization of the health sector by providing approximately 450 e-bikes to healthcare workers at no cost.

Meanwhile, to generate rental income, it is also working on alliances with restaurants and other establishments. "We currently have an agreement with three restaurants, putting approximately 60 bikes in circulation," says Mr. Otero.

The company recently wrapped up a US$2 million investment round aimed at expansing its fleet in the two cities. Led by local mobility solutions firm Auteco, the investment process lasted from January-April and now enables the company to add 500 e-bikes to its fleet, reaching more than 1,000 units overall, local news portal Dinero reported.

In 2019, Muvo revenue rose 325% and in the first two months of 2020 - just before the virus started spreading throughout the country - the company already posted 40% of its 2019 revenue with February seeing 35,000 trips.

photo: healthcare workers with Muvo bikes (source: Muvo)

Authored by: Daniel Bland