This startup provides certified, refurbished electric bikes that undergo rigorous inspections to ensure the integrity of their frames, mechanical components, drive systems, and batteries. By offering these quality e-bikes at significantly discounted prices, the company makes eco-friendly transportation accessible to a broader audience.
Funding
$60M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
AP+2Founders
Product
Problem
The high cost of new electric bikes (e-bikes) can be a barrier to entry for many consumers seeking eco-friendly transportation options. Concerns about the safety and reliability of used e-bikes purchased through private sales also deter potential buyers.
Solution
Upway offers certified pre-owned and new overstock e-bikes at discounts of up to 60% off retail prices, making sustainable transportation more accessible. Each e-bike undergoes a detailed 50-point inspection and refurbishment process by certified mechanics, ensuring both mechanical and electrical components meet high standards. Upway provides a one-year warranty covering mechanical and electrical defects, offering customers peace of mind. Customers can browse a wide selection of e-bike types, including city, mountain, cargo, and folding bikes, from top brands. Upway also facilitates a hassle-free selling process for individuals looking to trade in their used e-bikes.
Target Audience
Upway's primary customers are individuals seeking affordable, eco-friendly transportation, including urban commuters, recreational riders, and those looking to replace car trips with e-bikes.
Features
- Certified pre-owned and new overstock e-bikes from leading brands like Aventon, Specialized, and Rad Power Bikes
- Rigorous 50-point inspection process covering frame integrity, mechanical components, drive system, battery health, and accessories
- Refurbishment includes replacement of worn parts such as tires, brakes, cables, and chains
- Electrical repairs include battery refurbishment or replacement if capacity is below 80%
- One-year warranty covering mechanical and electrical defects
- 14-day return policy for customer satisfaction
- Option to sell used e-bikes to Upway for cash, with free shipping and pick-up
- Wide selection of e-bike types: city/hybrid, mountain, folding, road, and cargo
- E-bike finder tool to help customers identify the right bike based on their needs