January 10, 2021 - Billy Bike, a bike share operation in Brussels, has raised €223,000 through a crowdfunding campaign and plans to expand its fleet of electric bicycles from 450 to 1,000 according to L’Echo and The Bulletin.
With 40km of new cycle paths, out of stock bicycle shops, and new 30kph speed limits, cycling in Brussels has been booming. While Billy Bike has recorded three times as many trips, the huge crisis in the travel market has tempered the company’s projections according to CEO and co-founder, Pierre de Schaetzen.
The company had initially revealed its plans to double the number of e-bikes earlier in 2020 after the departure of rival provider, Jump.
Billy Bike raised €2 million to establish itself, and now boasts 588 shareholders and seven full-time employees. In the longer term, the company wants to expand into other Belgian and Dutch cities, once their model in Brussels is economically proven.
