Industry

Electrification, Sustainability, Technology, Micromobility

Company Type

Micromobility Subscription

Size

$20 Million

Investment Type

Equity

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Vässla Micromobility

Overview

Exploding tailwinds from the market

Urbanisation leads to increased congestion which leads to environmental issues. Micro mobility is the solution to the problem. The e-bike explosion has just started.


Subscription will lead the next phase of growth

The Netflix generation doesn’t want to own anything. According to BCG the subscription model will be the fastest growing Micromobility segment the coming years with 30% CAGR.


Differentiation through product, brand, membership and software

Vässla is a vertically integrated aspirational brand with end-to-end control of development, supply chain, logistics, operations and commercialization. Differentiation will be derived from product design, brand excellence, Vässla Club membership and the software experience.

 

 

Exciting traction data with expected positive unit economics

4x growth from Jan-May. 38% average MoM growth last 5 months. 53% MoM growth in  May. Stockholm, Paris, Berlin and Madrid are launched. New York to be launched in Sept/Oct.


The right team to win

Founder Rickard Bröms bring 15 years of experience in brand building. Noa Khamallah brings hyper growth knowledge from Lime, Voi and Charge. Market leader on e-mopeds in Sweden since 2017 (+6000 pcs sold). +1000 sold Vässla Bikes 2021. Now transitioning into the subscription model with recurring revenues to take the next evolutionary step.

Vässla Micromobility

Products and Products Features

 

 

Existing and new vehicles deep dive

                          

                          Vässla Moped

                      • Class 1 e-moped

                      • +5000 units sold

                      • 45 km/h top speed

                      • 120 km range

                      • Our legacy product

                      • Launched 2017

      Vässla Bike

• Pedal less e-bike (L1e-B).

• +1000 units sold.

• In-house drivetrain and battery.

• 25 km/h top speed.

• 40 km range.

• Launched 2021.

 

         Vässla Pedal

• Proprietary Vässla designed e-bike.

• Proprietary drivetrain and battery.

• Torque sensor motor.

• 15 kg weight.

• 75 km range.

• Launch 2022.

Vässla Micromobility

The Market

80% of all  personal trips are  below 15 miles. All can be  served by Micromobility.

The market for  e-bikes is  expected to be worth $80 bn in 2026 Corresponds to about 40M sold units

Almost 70%  choose Micromobility for their daily  commute

Vässla Micromobility

Business Model

 

The Vässla business evolution

Our legacy is e-commerce. Our future is subscription

Vässla started as an e-commerce company with a moped focus. Now transitioning into a subscription company with an e-bike focus

2017-20

E-commerce  company

 

Highlights:

• About +6000 sold units in total

• Market leader in Sweden. Achieved this our first year

• Annual revenue of 3 MUSD in 2021

• Gained market and customer knowledge

• Gained product development experience

• Gained supply chain and production experience

• Our legacy will springboard us into our next evolutionary step

2021-

Subscription  company

 

Highlights:

• +200 members in 3 months

• +85% signs up for our Pro-plan (6 months)

• Subscription offers a friction free customer experience

• Subscription increase accessibility and TAM

• Subscription will enable Gen Z and Millenials to e-bikes

• Subscription generates +60% gross margins

• The timing is right. The mass market is ready for subscription.

Vässla Micromobility

Value Proposition

 

The e-bike subscription revolution is here. Vässla leads it

We offer consumers and delivery drivers a hassle free subscription service for 79-129 €/month. All included

Better for customers

In the future people in general  will prefer a flexible and  friction free way to get access  to a premium e-bike


Addressability

The subscription model allows basically everyone to  afford a premium e-bike.

Including students and the  coming generation

Unit economics

The subscription model  give +60% gross margins  compared to 45% on the  retail model


Timing

Sharing, SaaS and software  subscription have paved way  for hardware subscription. This will lead the next phase of  Micromobility growth

Vässla Micromobility

Current Performance

Average 38%  MoM growth  the last 5  months.

 

4x growth Jan-May in Vässla Club


54% MoM growth in May


139 new members in May


20% WoW growth the last week of May


82% signing up for our 6-months plan


4 key market launched. Stockholm, Berlin, Madrid and Paris


New York to be launched in Sept/Oct.

Vässla Micromobility

The Future Outlook

Vässla is already live in 3 markets.  New York launch  in Q1 -23


 

Stockholm, Madrid and Berlin were setup and launched in just  45 days. 10 more cities to come the coming 12 m.


 

Scalable blueprint for all city launches.

 

• Local 3PL-partner for logistics, service and warehouse.

• Local agency for PR and Coms.

• One GM for every 5 cities.

• Identical goto-market plan.

Vässla Micromobility

Management 

 

 

Rickard Bröms

CEO

 

Branding expert with previous experience in

Red Bull, Adidas, Hyundai etc.

 

 

 

 

Noa Khamallah

Co-Founder, COO

 

VP Global Strategy at VOI

Senior Director Expansion at Lime

Co-founder of Charge.

 

 

 

 

Caen Contee

Board Member

 

Founding team of Lime.

Co-founder of Charge.

Advisor Linear Labs.

 

 

 

 

Tim Rucquoi-Berger

Board Member

 

Co-founder of Circ.

Co-founder of Naki Power.

Partner at China Minsheng IG

Vässla Micromobility

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Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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