E-Bike Subscription Startup Dance Grows Revenue 87% to €6.2M in 2023
Micromobility Pro - Full breakdown of Dance's 2023 financials and 2024 projections
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Contents
About Dance
2023 Financial Performance
Chart: Revenue vs Net profit (2020 - 2023)
Revenue Breakdown
P&L Snapshot
Cost Structure and Cost Reductions
Cash Position and Debt Restructuring
Consolidated Balance Sheet
2024 & 2025 Outlook
Chart: Funding Timeline
Conclusion
About Dance
Dance GmbH is a Berlin-based electric mobility subscription company launched by SoundCloud co-founders Eric Quidenus-Wahlforss and Alexander Ljung, along with Jimdo co-founder Christian Springub. The company offers a monthly subscription for high-quality e-bikes and e-mopeds, including maintenance, insurance, and on-demand repairs.
Dance operated in Berlin, Hamburg, Munich, Vienna, and Paris, offering three vehicle types:
Step-over e-bike
Low-step e-bike
E-moped
However, in September 2024, Dance exited the Austrian market due to limited scalability and lower-than-expected adoption, liquidating its Austrian entity.
Dance develops its entire e-bike fleet in-house, tailoring it specifically for subscription-based use. Manufacturing is handled by Dance’s production partner in Taiwan.
2023 Financial Performance
Dance recently reported its 2023 financial results, showing strong revenue growth but ongoing losses.
Revenue: €6.2m, up 87% from €3.3m in 2022.
Net Loss: €17.2m, an improvement of ~20% from €21.3m loss in 2022.
EBITDA Loss: €9.04m, reduced from €16.87m in 2022, meeting the company’s goal of bringing EBITDA losses down to the single-digit million range.