Upway – Scooter Dealer


The post was originally published in Russian on Startup of the Day. Alexander kindly agreed to republish what we think is of great value to our readers.

Car dealers have been selling used cars for a hundred years now. It is a clear and stable business, but it can’t make you a billionaire quickly – the competition is almost perfect, and they are almost all the same.

Upway, the French startup of the day, wants to become the first dealer in a new market. The startup resells used electric bikes and scooters. When a person gets bored with their scooter, they fill out a small form on the website, attach photos, receive a price estimate, and wait for the manager with the final payment.

Then the bike gets checked, cleaned, refurbished, and published on thatreselling very website. For the buyer, Upway is a regular online store, the startup even offers a one-year guarantee. There is no information on the precise retail margin compared to some local OLX. Supposing its ‘commission’ is about 20% for the buyer, plus 20% for the seller, plus 10% for added value, such as the warranty, the margin is not bad at all, and the clients are happy.

Upway launched in France last year, today it works in several other European countries and promises to expand to the USA. It brought in USD 25M of investment in May.


#france #roundb #reselling

Translation: Kostiantyn Tupikov


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