Helsinki-based mobility benefits provider Vapaus has raised €15 million in a debt facility from Norion Bank to expand its market presence in Finland and Sweden, promoting sustainable transportation and employee well-being. Vapaus provides mobility benefits for employees, offering a unique model where individuals can own their ride, promoting sustainable transportation and well-being. The funding will be used to solidify its position in the employee benefit bikes sector, allowing customers to own their ride for the term of service with the option to purchase the vehicle afterward.
Vapaus specializes in providing zero-emission benefit bike services to employers, aiming to increase cycling and sustainable mobility. The company focuses on offering cost-effective and convenient solutions to encourage more people to choose cycling, promoting health benefits and well-being in the workplace. Vapaus operates with a vision of becoming a leader in sustainable B2B2C mobility solutions on a global scale. The company’s values include a commitment to reducing carbon emissions, developing customer-centric solutions, fostering employee well-being, building trust through honesty and integrity, and prioritizing exceptional customer experiences.
Vapaus CEO Tero Era shared to Tech.eu, “This partnership is a significant proof point for our business model and driver in releasing our growth potential. The funds obtained will play a pivotal role in expanding our reach and solidifying our position as a key player in the employee benefit bikes sector.”
Norion Bank’s Ari Siukonen commented, “Supporting Vapaus aligns perfectly with our values. We’re proud to invest in the future of sustainable transportation and employee well-being. Vapaus is a perfect partner, and we’re excited to witness their continued success in the Nordics.”
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