12 Million for E-Bike Motors
The European Investment Bank (EIB) is investing 12 million euros in up-and-coming Munich company Fazua.
Founded in 2013, the firm makes extremely lightweight motor and battery systems for electrical bicycles. The Fazua “Drivepack” weighs only 3.3 kilos and is slim enough to be integrated into bikes’ down tubes.
Fazua services 35 European e-bike producers and is a market leader in the e-mountain-bike and e-racing-bike sector.
“With our venture financing of Fazua, we close a gap in the market for highly innovative SMEs that need long-term, non-watered-down growth capital,” says EIB Vice-President Ambroise Fayolle, “Fazua can now concentrate completely to growing its business and developing follow-on products.”
“The capital provided by the EIB is the ideal financial instrument in the current phase of our company,” says Fazua Managing Director Fabian Reuter. “For us it is important to preserve our success business model with the highest aspirations to quality and production under our own roof.”
Fazua “Urban” e-bike © Fazua