Amsterdam-based MotoShare, a motorcycle rental platform, announced that it has resumed its operations after filing for bankruptcy on December 21, 2023.
From February 1, 2024, MotoShare has started its motorcycle rentals, ensuring a seamless continuation of services for motorcyclists using the familiar MotoShare platform.
Daan van der Wal, CEO and founder, says, “In recent weeks, there has been enormous support from the community and partners to work on a restart. In consultation with the trustee, the relaunch was successfully orchestrated on January 19, 2024.”
Key stakeholders, including private and professional rental companies, as well as vital collaborators like Combi Motors Insurance, have expressed support for the relaunch.
Financial transactions on the platform will adhere to European PSD2 regulations, with rental income channeled through a licensed third-party account under the supervision of the Dutch Central Bank.
MotoShare: From Bankruptcy to 2024’s roadmap
MotoShare launched in early 2016 as a peer-to-peer rental platform for motorcycle enthusiasts, and it turned out to be a hit. The Dutch company started a strategic partnership with a large number of motorcycle companies, importers, and manufacturers.
Daan van der Wal adds, ”In 2023, almost 10,000 motorcyclists rented a motorcycle from one of over 1,500 private or the more than 70 affiliated Dutch motorcycle stores. An excellent basis for healthy operations and continuity for the future.”
Encouraged by the results in the Netherlands in 2020, MotoShare also began renting in Spain and France. However, the rollout and marketing outside the Netherlands proved costly, and the volume in rental results failed to materialise.
Expenses for international expansion weighed on the results of the activities in the Netherlands, and shortly before Christmas 2023, bankruptcy became inevitable.
Daan van der Wal concludes, ”In 2024, the focus will be entirely on the Dutch market, personal service, and powerful promotion of the affiliated partners. The time, money, and energy spent in previous years on international expansion and raising investments can now be devoted to running the business in the Netherlands, which will MotoShare certainly benefit.”