Swapfiets Acquires Dance, Creating Europe’s Largest E-Bike Subscription Player
The European e-bike market, which was still booming during the COVID pandemic, is currently undergoing massive consolidation. Once-major industry names such as VanMoof, Cowboy, and Ampler have slid into bankruptcy, and now the next phase is arriving. With the acquisition of Berlin-based premium provider Dance by Dutch market leader Swapfiets, a new heavyweight in urban micromobility is emerging. At the same time, several insolvencies among well-known competitors illustrate how challenging the market environment currently is for e-bike companies.
Swapfiets Swallows Dance
Swapfiets, founded in the Netherlands in 2014 and part of global mobility group Pon Holdings, has announced the acquisition of Dance. Since its founding, Dance had positioned itself as a digital, premium-oriented e-bike subscription provider, operating primarily in Berlin, Hamburg, and Paris.
Through the transaction, the combined fleet grows by more than 11,000 e-bikes to a total of over 75,000 subscription e-bikes. The combined company will be present in 45 cities and counts around 280,000 members. Its market position is set to be significantly strengthened, particularly in Paris.
“By welcoming Dance into the Swapfiets family, we are combining two of the most innovative teams in the industry to ensure that every bike rack in Europe’s major cities contains a subscription bike,” said Marc de Vries, CEO of Swapfiets.
Two Brands, One Strategy
Swapfiets plans to continue operating both brands in parallel. While Swapfiets stands for a service-intensive model with in-person customer support, Dance will continue to appeal to users who prefer a fully digital customer experience. Dance co-founder and CEO Christian Springub remains in his role and will lead the brand under the Swapfiets umbrella.
“Swapfiets has built an impressive operational infrastructure. Combined with our digital approach, we are creating a force that can truly transform urban mobility in cities like Paris and Berlin,” said Christian Springub, co-founder and CEO of Dance.
Wave of Insolvencies Hits European E-Bike Pioneers
The acquisition of Dance comes at a time when several prominent European e-bike companies have experienced significant financial difficulties. No fewer than three providers have recently had to file for insolvency:
- VanMoof: The Dutch manufacturer, known for its design-oriented and heavily app-dependent e-bikes, filed for insolvency. VanMoof was later reactivated under new ownership (more on that here)
- Cowboy: The Belgian start-up, which also focused on connected premium e-bikes, was unable to sustain itself in the market long-term and slid into insolvency.
- Ampler: The Estonian manufacturer, which had recently gained international attention with the award-winning Ampler Nova Pro model and its USB-C charging capability, filed for insolvency in Harju County. Board member Kristian Maruste cited as the main reason a long-term lease for a Berlin office that resulted in a contractual penalty of 1.2 million euros and blocked the search for new investors. Around 50 employees are affected.
Structural Transformation in the Industry
The developments paint a divided picture of the European e-bike market. On one side, subscription-based providers with scalable business models and strong operational backing from parent companies are growing. On the other side, manufacturers that rely on direct hardware sales are coming under increasing pressure: high development costs, proprietary technologies, and a strong dependence on service networks make the model vulnerable.
