Amsterdam-based Cargoroo, a shared electric cargo bikes provider, announced on Friday, June 2, that it has secured €1.1M in a crowdfunding campaign on the Oneplanetcrowd platform from 543 funders.
The Dutch company launched the campaign with a target of raising €2M.
Cargoroo says it will use the funds to expand and grow to new German and Belgian cities.
In December 2022, the Amsterdam startup raised €10M from Participatiefonds Duurzame Economie Noord-Holland (PDENH), The Sharing Group, Fairtree Elevant Ventures, and others.
Cargoroo: What you need to know
Founded by Jaron Borensztajn, Erik de Winter, and Jelle Maije, Cargoroo offers e-cargo sharing bikes that are safe, affordable, environmentally friendly, and convenient.
Electric cargo bikes are present at fixed locations and can be rented as per needs via an app. Users can rent it for € 0.10 per minute (pay per use).
The company focuses on those who need a cargo bike from time to time, such as parents who want to make an excursion with their kids, people looking to move heavy or large objects, or students moving into student accommodation.
Cargoroo says its user base has grown threefold over the past year. Together, these users covered a distance of over 1,500,000M kilometres.
The Dutch company plans to introduce a subscription model to serve customers even better, appropriately reward loyalty, and encourage off-peak usage.
Cargoroo is present in Amsterdam, Utrecht, Den Haag Arnhem, Nijmegen, Antwerpen, Leuven, Mechelen, Manchester, Berlin, and Eindhoven.
OnePlanetcrowd: What you need to know
Founded in 2012 by Coenraad de Vries, Laura Rooseboom, and Maarten de Jong in Amsterdam, Oneplanetcrowd was one of the first pioneers in the Netherlands with a crowdfunding platform.
With over 43,000 investors and nearly 300 fundings, Oneplanetcrowd passed the €100M capital threshold for social and sustainable companies and projects in September 2022.
Oneplanetcrowd was initiated by StartGreen Capital, one of the largest impact fund managers that have financed over 300 sustainable entrepreneurs and energy projects.
