Avocargo must file for insolvency

The cargo bike rental company has run into difficulties. However, business operations are to continue and a buyer is to rescue the company if possible.

The cargo bike start-up Avocargo has to file for insolvency. This is reported by Gründerszene citing the company and lawyer Philipp Grauer, who has been appointed provisional insolvency administrator. The reason is probably a failed financing round.

Avocargo, founded in 2021 by Loic Pinel, Matti Schur and Marc Tabrizi, rents out e-cargo bikes. The start-up has closed two rounds of financing since it was founded, but its finances now appear to be in trouble. Avocargo has so far been active in Berlin and Munich and has recently also been trying to secure deals with business customers.

Insolvency administrator Grauer told Gründerszene that he is now aiming to sell the company. He is optimistic that the business can be continued as soon as the legacy assets have been disposed of. The 17 employees will remain on board for the time being.