While Felyx strives for stabilization and growth, the coming period will be crucial for the company to maintain and strengthen its position in the market.
The Dutch scooter sharing company Felyx, known for its electric scooters that are available in various cities, is facing financial challenges. A detailed analysis of the annual reports of Felyx and its subsidiaries, as filed with the Chamber of Commerce, reveals mounting losses and an urgent need for new financing to keep the company going. This comes amid a series of setbacks, including disappointing market conditions and missing a crucial one permit in Amsterdam, which endangers the survival of Felyx.
After analyzing the annual figures, it is for the Financial Daily It is clear that the loss-making scooter sharing company Felyx needs new financing. In 2022, Felyx's losses increased to a net loss of €16,2 million, a significant increase compared to the €12,3 million loss the year before. This financial setback resulted in the complete evaporation of Felyx Sharing Holding's equity. In response to this development, Felyx has implemented a reorganization and drawn up a new business plan, with the aim of turning the tide.
At the beginning of 2023, the company secured €6,8 million in new financing from its shareholders, including investment company De Hoge Dennen Capital and investor Anne-Marie Rakhorst, who had previously invested significantly in the company. This financial injection was a crucial step for Felyx to continue its business operations.
The challenges for Felyx were further exacerbated by the introduction of a helmet duty for moped riders, which had a direct impact on the use of electric shared scooters. In addition, bad weather and economic uncertainty had a negative impact on demand. All this resulted in a prolonged period of operating losses, while profits were expected.
The introduction of mandatory helmet use for moped riders, and therefore also for users of electric shared scooters such as those from Felyx, marks a significant turning point in the Dutch mobility sector. This measure, intended to increase road safety, has had direct consequences for the ease of use and therefore the popularity of scooter sharing services. For Felyx, a pioneer in offering electric scooters on demand, this presented an unforeseen hurdle in their business operations.
Despite all the setbacks, Felyx remains optimistic about the future, writes the Financieel Dagblad. According to the author of the piece, CEO Daan Becker, who took over from Quinten Selhorst in April, and financial director Maarten Strijers approach that a solution is in sight. Strijers noted that while he could not provide further details, a resolution process is underway and he expects to be able to share more information in March.
The situation surrounding Felyx underlines the challenges that startups in the mobility sector face, especially at a time of economic uncertainty and rapidly changing regulations. While Felyx strives for stabilization and growth, the coming period will be crucial for the company to maintain and strengthen its position in the market.
