Avocargo must file for insolvency
Lars-Thorben Niggehoff
| 06.02.2023
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.
Freight 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-load bicycles. Since its founding, the startup has been able to close two rounds of financing, but despite this, its finances now seem to have run into trouble. So far, Avocargo has been active in Berlin and Munich, and had recently also sought deals with business customers.
Insolvency administrator Grauer told Gründerszene that he is now aiming for a sale of the company. He said he is optimistic that the business can continue once the legacy assets have been jettisoned. The 17 employees will remain on board for the time being.
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Startup
2021
Berlin
Avocargo
Cargobike sharing platform.
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