Tuvalum

Tuvalum operates as a managed marketplace in the European pre-owned bicycle sector, addressing the market's need for trust and safety. The company was founded in Valencia, Spain, in 2015 by Alejandro Pons, who serves as CEO, and Ismael Labrador, the CMO. The founding idea emerged in 2014 after discovering that many cyclists had negative experiences with online scams when buying and selling used bikes. Pons, an industrial engineer, had prior entrepreneurial experience, having founded a bartering marketplace at age 17. The company's name was inspired by the island nation of Tuvalu, symbolizing the founders' ambitious vision.

The firm's business model has evolved from a peer-to-peer marketplace, where it acted as an intermediary for security, to a recommerce model. Tuvalum now acquires, reconditions, and sells the bicycles directly, ensuring every bike listed is owned by the company and meets its quality standards. This shift allows for a stringent certification process where each bicycle is inspected and serviced by specialist mechanics, then sold with a warranty. This core service provides a solution to the prevalence of fraud and the sale of stolen or counterfeit bikes in the second-hand market. Revenue is generated from the sale of these certified refurbished bicycles, which include mountain, road, gravel, and e-bikes from major brands. The company also offers an online appraisal service and trade-in programs, partnering with manufacturers like Berria Bikes to facilitate upgrades for customers.

Since its inception, Tuvalum has achieved significant milestones, including participating in the Demium Startups incubation program and being accelerated by Plug and Play in 2016. The company has successfully raised capital through multiple funding rounds to fuel its expansion. A notable Series A round in November 2022, led by Demium and Athos Capital, secured €3 million. This funding was aimed at accelerating growth in key European markets such as Italy, Germany, and France, which already constituted a significant portion of its sales. The company's growth reflects the increasing consumer trend towards a circular economy, with expectations to reach a turnover of nearly €10 million.

Keywords: pre-owned bicycles, certified bikes, used bikes online, recommerce, circular economy, bicycle marketplace, refurbished bikes, online bike shop, sustainable mobility, cycling e-commerce, bike trade-in, European bike market, Ismael Labrador, Alejandro Pons, Valencia startup, bike certification, second-hand sports gear, road bikes, mountain bikes, gravel bikes, e-bikes