Rhyde

Rhyde is a Spanish company specializing in the refurbishment of micro-mobility vehicles, positioning itself within the circular economy. It was founded in 2021 by Erik Ojantakanen and Sartaaj Hussain. The Madrid-based startup focuses on restoring used e-scooters and e-bikes to a like-new condition through a proprietary process.

The company's business model serves both individual consumers (B2C) and business clients (B2B), such as shared mobility operators. Rhyde acquires second-hand vehicles from various sources, including private users and retailers through an omnichannel buyback program in Spain. These vehicles then undergo a meticulous refurbishment process involving inspections, repairs, and component replacements. Rhyde collaborates with major brands, utilizing their original spare parts and mechanic training to ensure quality. The final products are sold at prices up to 50% lower than new vehicles and come with a one-year warranty and a 14-day trial period.

Rhyde's revenue is generated from the sale of these refurbished vehicles. The business model is designed to be capital-light, also incorporating a marketplace model to commercialize new and refurbished inventory from major brands in Spain. By extending the life of personal electric vehicles, the company aims to reduce e-waste and make sustainable transportation more affordable and accessible. In November 2024, Rhyde announced it had raised €460k in a financing round led by Akka and EIT Urban Mobility, an initiative of the European Union. This funding is intended to accelerate growth, expand its product offerings, and scale operations across Spain and France.

Keywords: refurbished micromobility, e-scooters, e-bikes, circular economy, sustainable transportation, urban mobility, vehicle refurbishment, B2C e-commerce, B2B fleet sales, mobility solutions, second-hand electric vehicles, green technology, Spain, European market, personal electric vehicles, mobility-as-a-service, aftermarket parts, vehicle buyback, omnichannel retail, impact investing