Berlin, 20.07.2022. As of today, the start-up GetHenry has a new name: the full-service mobility provider for delivery companies is now operating as CYCLE. In addition, the management team around the founders Luis Orsini-Rosenberg and Nik Seilern is growing, with Marjorie Simon joining CYCLE as Chief Operations Officer (COO). Her goal will be to support CYCLE’s continuous growth in Europe with a stable operational foundation, as well as to define the path to profitability for the young company.
The CYCLE brand represents the German start-up’s sustainable mission
The new name is a result of the company’s development: in 2018, the start-up was founded as a rental service for e-scooters at hotels; “Henry” was the users’ personal mobility concierge. Due to hotel closures as a result of the COVID-19 pandemic, the business model has changed. The company now offers a full-service mobility subscription for delivery companies. Delivery services and courier companies can purchase customised mobility solutions on a monthly subscription basis, ranging from vehicle procurement to software and service.
It’s an offering that lives up to the CYCLE name. CYCLE stands for two-wheeled (BiCYCLE) or three-wheeled (TriCYCLE) electric bikes, but also for the company’s sustainable focus. The goal is to extend the lifetime of the fleet, for example through re- or upcycling, as well as to reduce emissions from the delivery sector. “The new name and strong brand identity fit with our mission to decarbonise the commercial transportation sector. We are focusing on electric utility bikes instead of internal combustion engine vehicles,” says Orsini-Rosenberg. “As a brand, CYCLE is urban, bold and cool, which is why we think couriers will identify with CYCLE.”
New COO supports development from start-up to scale-up
CYCLE’s offering supports the rapid growth of delivery services such as Flink, Wolt, Mayd and Just Eat Takeaway.com, and it is now expanding its range to include solutions for global parcel and logistics services, for which sustainable last-mile delivery has become essential. Accordingly, the Berlin-based start-up plans to grow itself and has hired Marjorie Simon as COO to strengthen its management team. Simon started her career as a consultant for Accenture as well as E&Y in Paris, helping international clients transform their businesses. For Allianz Partners, she led the development of mobility offerings and IoT services before most recently working for Dutch e-moped provider Felyx in Germany, where she was responsible for launching and managing operations and growth.
“I am very excited to join CYCLE and work with the team to shape the future of last mile delivery. CYCLE is making it more efficient, cost-effective, and environmentally friendly,” says Simon. “The landscape of delivery services is rapidly evolving. This gives us a unique opportunity to meet changing customer needs while having a positive impact on CO2 emissions and quality of life in cities.”
“We are very pleased to welcome Marjorie as our new COO. We knew from our first conversation that she was the perfect fit for the position,” said Orsini-Rosenberg. “Marjorie brings 15 years of mobility, product development and consulting experience to the team and we are confident she will help us grow CYCLE from a start-up to a scale-up.”
16.5 million euros to fund growth in Europe
Most recently, the company raised €16.5 million in a funding round from well-known investors such as Local Globe, Visionaries Club, and EnBW New Ventures to drive growth in Europe. Currently, the start-up is on the market in Germany, Austria, and Italy. In the future, the offering will also be available in Spain, the Netherlands, and the United Kingdom.
Early-stage investor APX has been with the company almost since its inception. “We have always believed in CYCLE as one of the early investors and are excited to see the brand and team grow,” said Henric Hungerhoff, Managing Director at APX. “The rebranding is a great opportunity for CYCLE to clearly define its offering to customers and partners. The addition of Marjorie to the management team makes the start-up ready for the next step.”
CYCLE was founded by cousins Luis Orsini-Rosenberg and Nikodemus Seilern in 2018. The
company pioneered the model of a full-service subscription for light electric vehicles. The
goal: to make e-mobility affordable for everyone. During the COVID-19 pandemic, the
startup started to focus on last-mile delivery due to the positive environmental impact of
electric mobility on commercial transportation. Over the years, CYCLE grew to one of the
leading electric vehicle subscription companies in Europe.