The Micromobility Newsletter

The Micromobility Newsletter

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The Micromobility Newsletter
The Micromobility Newsletter
Swapfiets' Revenue up 19% to €85.3m in 2023
Micromobility Pro

Swapfiets' Revenue up 19% to €85.3m in 2023

Full breakdown of micromobility subscription company Swapfiets' 2023 finacial performance and user growth

Mar 27, 2025
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The Micromobility Newsletter
The Micromobility Newsletter
Swapfiets' Revenue up 19% to €85.3m in 2023
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Welcome to Micromobility Pro, a bi-weekly publication which is part of The Micromobility Newsletter, where we deep-dive into financials of micromobility companies and exclusive insights tailored for professionals and members.


Micromobility Europe 2025: Sale Ending in 2 days!

Join us at Micromobility Europe in Brussels to hear Swapfiets CEO Marc de Vries share the story behind the company’s growth.

Only a Few €399 Tickets Left – Grab Yours Before Prices Rise!

Buy more to get more discount: 1–2 for €399 each, 3–4 for €349 each, 5 or more for €299 each

Get Tickets Now!

Get Involved: Sponsor/Exhibit or Speak at the Event.

Speakers:

  • Horace Dediu, Co-Founder Micromobility Industries

  • Maxim Romain, Co-Founder Tier-Dott

  • Michael Washinushi, Co-CEO Third Lane Mobility (Bird, Spin)

  • Kevin Talbot, Managing Partner, Relay Ventures

  • Stewart Lyons, Co-CEO Third Lane Mobility (Bird, Spin)

  • Kersten Heineke, Partner McKinsey & Company

  • Fredrik Hjelm, Co-Founder, CEO Voi

  • Marc de Vries, CEO Swapfiets

  • Carlo Napolitano, Investment Manager Sofina (Investor, Tier-Dott)

  • Erdem Ovacik, Founder, Donkey Republic

Are you a Startup? Join our exclusive Startup Arena - Two event tickets, an exhibition space and access to networking app for selected startups. Apply now!


Contents

  • About Swapfiets

  • 2023 Financial Performance

  • Chart: Revenue vs Net Profit (2018 - 2023)

  • Revenue Breakdown by Geography

  • Cost Structure and Cost Reductions

  • Chart: Membership and Revenue per Member (2018-2023)

  • P&L Snapshot

  • Cash Position and Debt Restructuring

  • Consolidated Balance Sheet

  • Conclusion

About Swapfiets

Swapfiets is a bike subscription service founded in 2014 by Dutch students Richard Burger, Dirk de Bruijn, and Martijn Obers. Instead of owning a bike, customers pay a fixed monthly fee for access to a high-quality bicycle, e-bike, or e-scooter, with all service, repairs, and replacements included. The idea is simple: if your ride breaks, Swapfiets fixes or swaps it, so you're never without a working bike for long. Now active in 45 cities across Europe, Swapfiets has become a recognizable part of urban life, thanks in part to its signature blue front tire.

Swapfiets offers five bike models, including two pedal bikes and three e-bikes.
- Pedal bikes: Original, Deluxe 7

- E-bikes: Power 1, Power 7, Power Plus

Swapfiets competes with Germany based Dance in the same space. We broke down the financials of Dance in the previous edition of Micromobility Pro.

2023 Financial Performance

In 2023, Swapfiets reported 85.3m in revenue, up 19% from €71.7m in 2022, driven by expansion in established core markets like the Netherlands and Germany and a growing e-bike subscription base, surpassing 43k subscribers by year-end.

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