E-bike rental startup Whizz launching in Philadelphia
Add Axios as your preferred source to
see more of our stories on Google.
Whizz is coming. Photo: Courtesy of Whizz
An e-bike rental company targeting food delivery workers is expanding from NYC to Philadelphia.
Why it matters: Whizz aims to be an affordable alternative to get gas-guzzling mopeds and unsafe bikes off the streets — all while addressing growing safety and regulatory concerns.
How it works: The startup, which launches in Philly on Monday, rents e-bikes for around $150 per month, and fixes and replacements are part of the subscription plan. Whizz also offers installment plans to purchase bikes.
- In New York City, where Whizz launched in 2022, couriers with partners DoorDash and GrubHub get a 15% discount. There, Whizz has around 2,500 "brat-green" bikes on the roads, and five brick-and-mortar hubs where customers can rent, repair or exchange damaged bikes. Services are offered in six languages.
The big picture: The use of e-bikes and mopeds is skyrocketing in major cities due to high demand for food delivery and an influx of immigrants seeking work and quick, cost-effective vehicles.
- But some don't have the means or documentation to purchase them, and instructions to register them.
What they're saying: Whizz CEO and co-founder Mike Peregudov tells Axios that he sees "strong demand" for the service in Philadelphia.
- "When a new person is coming to [the U.S.], a delivery job is often the first opportunity," Peregudov says.
- An entrepreneur from Russia who immigrated shortly before the war in Ukraine, Peregudov says he saw "the pain in this space, but also opportunity." He could relate to language barriers, or not having a credit line to get a bike. "How can we minimize the barrier?"
The intrigue: Whizz recently raised $12 million for a big expansion, according to TechCrunch.
- Whizz uses proprietary software and designs their bikes with food delivery in mind. Peregudov tells Axios the bikes are built to go far and long, roughly 1,000 miles per month with big batteries that can last a 12-hour workday.
- They're protected against fraud and theft by GPS trackers and remote control. Whizz can lock down bikes, operates a collection team and can limit the speed of bikes per local road laws.
Editor's note: This story has been corrected to state that Whizz has around 2,500 (not 250,000) active bikes, and updated to reflect that the company's rent-to-own plans have been changed to installment-purchase plans.