Fazua GmbH, a Munich, Germany-based e-bike company, received €15m in financing.
€12m of these funds were made available through the EU bank’s Venture Debt Product, a type of risk capital for innovative companies. The loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI).
The company intends to use the funds to expand research and development activities.
Established in 2013 and led by CEO Fabian Reuter, Fazua manufactures super-lightweight e-bike drive systems, which fit, including the motor and battery, in the down tubes of bicycles. Since entering the market, the company has built up a customer base that now includes more than 35 European manufacturers offering bicycles in the e-mountain bike, e-urban, e-gravel and e-racing bike segments.