NEW YORK – Oct. 29, 2025 – Ridepanda, an e-bikes-as-an-employee-benefit platform, founded by industry veterans from Lime, Bird, and Scoot, announced it secured a total of $12.6 million in new capital, combining a growth equity round with new strategic debt financing. A new investment from the Bikeleasing Group, one of Europe's largest corporate-sponsored bike leasing providers, anchored the funding along with participation from existing institutional investors Blackhorn Ventures, Yamaha Motor Ventures, Proeza Ventures, Somersault Ventures, Oyster Ventures, and new partnerships with CSC Leasing and Camber Road.
Ridepanda helps employees reimagine the commute by providing e-bikes, cargo bikes, and scooters through their employer benefits. Growing by more than two times in 2025, the company has emerged as the leader in the U.S., demonstrating strong traction with leading employers across diverse sectors, including Amazon, Google, Goodwin Law, and public-sector employers like the County of San Mateo. The company will leverage the new raise to expand its enterprise team, accelerate product development, and scale its platform to meet nationwide demand for its commute solutions.
Validating the vision for sustainable mobility as an employee benefit
In Europe, the employee e-bike benefit model is well-established. In Germany, where the bike leasing market has grown to over $3.2 billion annually and over 2.1 million active leases, the Bikeleasing Group operates a similar corporate-sponsored bike leasing business, partnering with over 80,000 employers, including Lufthansa, Marco Polo, and Kärcher, facilitating more than 100,000 employee bike leases each year. Their investment in Ridepanda's vision validates their business model in the U.S., where the growth potential is three times that of Germany.
"This investment is a massive validation from a European powerhouse that the e-bike benefits model we've pioneered works in the U.S. and is ready to scale," said Chinmay Malaviya, CEO and Co-Founder of Ridepanda. "The arrival of powerful electric bike and scooter options is helping the U.S. catch up to Europe and finally makes true sustainable commuting possible, giving employers a reliable, affordable platform to empower their people to ditch single-occupancy cars. We're getting the best strategic advice in the world to ensure we build out the best experience for every employer and employee across the country."
Strong growth driven by RTO and push for employee wellness, as electric bikes become mainstream
Employers are recognizing that electric bikes and scooters are a reliable and desirable mechanism for Return-to-Office (RTO) policies and a proven way to improve employee wellness, retention, and recruitment. In 2025, Benepass reported that 30% of companies are offering some level of contribution to offset commuting costs and attract talent.
The investment demonstrates that Ridepanda's model is emerging as a critical RTO tool. While typical city-wide commuting-by-bike averages hover around 2%, Ridepanda's employer partners are reporting an e-bike adoption rate of 10-13%. The increase also indicates that employers who fail to address commuting barriers are falling behind in employee retention and recruitment.
Leading employers are already seeing measurable impact from Ridepanda's approach. Rubrik, a global cybersecurity company, launched an e-bike benefit through Ridepanda to help employees return to the office more sustainably. The program quickly gained traction across multiple offices, boosting active commuting adoption and supporting the company's environmental goals.
Rubrik's Director of Global Safety, Brian Gyorkos, explained, "Ridepanda delivers immediate ROI by boosting employee satisfaction and advancing sustainability goals - all through an elegant, turnkey solution that's more cost-effective than parking, or shuttles, and helps meet local mandates to reduce single-occupancy vehicle trips."
About the Bikeleasing Group
The Bikeleasing Group is one of the leading providers of sustainable cycling mobility and modern employee benefits in the German-speaking world. More than 80,000 companies with over 4 million employees already rely on the Group's solutions. The comprehensive service portfolio combines all relevant services from a single source - from company bike leasing with comprehensive insurance cover and service package to tax-free employee benefits via app and the marketing of high-quality, quality-tested used bikes. At ten locations in Germany and Austria, more than 500 employees are driving the expansion of sustainable mobility and making attractive benefits easily accessible to companies and employees.
About Ridepanda
Co-founded by Chinmay Malaviya and Charlie Depman in 2020, Ridepanda provides enterprise partner companies with a turnkey platform for employees, offering monthly subscriptions to a broad selection of e-bikes and scooters, subsidized through their benefits package. Ridepanda is on a mission to help public agencies and enterprises enhance the physical health and mental well-being of their employees, while creating more efficient cities that operate on small, quiet, eco-friendly electric vehicles. Ridepanda partners, including Amazon, Google, OpenAI, Intuit, and the County of San Mateo, are providing national support to their offices across the country. Ridepanda's employer partners benefit from improved employee wellness and retention, a more positive return to the office, reduced drive-alone rates, and enhanced Environmental, Social, and Governance (ESG) reporting. The company is backed by investors including Blackhorn Ventures, Yamaha Motor Ventures, Porsche Ventures, Proeza Ventures, General Catalyst, Somersault Ventures, Moving Capital, Alumni Ventures Group, Lorimer Ventures, Oyster Ventures, 0 Ventures, and Lime's Co-Founder, Toby Sun. For more information, please visit www.ridepanda.com and follow us on LinkedIn.
