Urbo is a smart-bike share provider, focused on locations where we secure exclusivity. First scheme launched in London in 2017. Signed agreements in place with four London councils. Signatures in place with numerous UK & Irish councils for Summer launches.
Many city and town councils can't afford bike-share schemes due to budget constraints. The newly emerged dockless model from Asia has resulted in 'littering of streets' as users can leave bikes anywhere.
Urbo provides bike-share systems to councils free of charge. Users pay via membership and usage fees. Users unlock the bikes via an app on their smartphone. Unlike many bike sharing systems, there are no docking stations. Urbo has created a cable-lock solution, meaning bikes are locked to existing parking infrastructure. This eliminates the ‘littering’ effect and significantly reduces theft and vandalism.
Europe is expected to introduce c. 6 million dockless bikes in the next 36 months (Source: European Cyclists' Federation and National Governments). Each bike generates c. €1,000 per annum, giving this newly emerged market a value of c. €6 billion.
The European market is regulated by city and town councils. Some European councils hesitant to trust large Chinese corporations. What has happened in China is not acceptable to European Councils. Councils very cognisant to oBike’s demise in the U.K. and are worried about Asian operators. Opportunity for European player to position itself as the respected and trusted solution. First mover advantage has been gained with strong relationships developed with multiple councils in many geographies.
- Launched in our first London council in October 2017 in collaboration with both the council and Transport for London (TfL) to make this happen
- We went head-to-head against ofo, MoBike and oBike to win this deal
- Launched in our second and third London councils in February 2018
- Launching in Ipswich in March. The focus for 2018 is on the U.K./Irish market
- In advanced discussions with 9 Councils
- In active discussions with 30 other councils in the U.K. and Ireland
- Website and iOS/Android apps full developed: http://www.myurbo.com
-1st bike-share company in the world to be accredited by the European Cyclists' Federation and UK organisation BikePlus.
-Managment team in place that have started, scaled and sold businesses
-Lean team in place with roles including sales, relationships, IT, marketing and customer supprt
We appreciate that the quantum of capital required to take on the Chinese and US operators in this space is too much. This, added to the parking issues arising (fallen and stolen bikes), leads us to a protective strategy:Urbo's focus is on locations where we secure exclusivity. Urbo use 'cable' smart locks (we have developed a lock that locks the bike to existing parking infrastructure)
We have 64 other Councils, with ongoing engagement, where we would plan to launch in 2019. All of these have also signed Statements of Intent to use Urbo. We continue to engage with >200 other councils across Europe as we build out our pipeline of opportunity.
Co-founder Shane Connaugthon said “We considered whether we should be
unconventional and open the investment round up to micro-investors and we said
look, bike-sharing is for everyone, so why not let the public be part of this
journey. There are many people out there interested in how technology can help
urban transport using sustainable models and we feel this is something people
will love to get on board with”.
Launched in our first London council in October 2017 in collaboration with both the council and Transport for London (TfL) to make this haOctober, 2018
Launched in our second and third London councils in February 2018February, 2018
1st bike-share company in the world to be accredited by the European Cyclists' Federation and UK organisation BikePlus.September, 2017