Rybit

Rybit is a micro-mobility company that leases electric bikes on a subscription basis to individuals and provides fleet systems to businesses and public bodies. It was founded in Taiwan in 2019 and operates across Europe, the US and Asia. Consumer plans are offered under private, student, corporate and delivery categories, and are marketed as all-inclusive monthly leases that bundle servicing and theft protection, with options to start, stop, swap or eventually purchase a bike.

For businesses, Rybit supplies ready-to-ride bike programs for corporates, hotels, bike shops and rental operators, along with a dealer program in which retailers stock Rybit bikes and earn recurring revenue on referred customers. Its B2B delivery offering targets food and beverage, retail and logistics customers, combining hardware, software and IoT integration with preventative maintenance, mobility asset management, route optimization and data analytics so customers can run delivery fleets without owning the e-bikes. For governments, the company operates managed public shared e-bike fleets. The bike line-up listed on its site includes the Optima and RYT C1 models alongside VanMoof S3, X3 and S4 bikes, and existing VanMoof subscribers are routed to either a legacy Firmhouse login or the Rybit App depending on sign-up date.

Founding story

Rybit was founded in 2019 in Taiwan by Mark Lin (Lin Jingde), who previously led international operations at bike-sharing company Mobike, where he spearheaded a partnership with Mumbai's dabbawalla courier network. Observing the dabbawallas' bicycle-and-train lunchbox delivery system, he concluded technology could improve bicycle utilization, operational efficiency and courier productivity in last-mile logistics. After Meituan acquired Mobike in 2018, and following studies at Harvard Business School, he identified opportunity in European and American short-distance travel and instant delivery markets and founded Rybit as CEO, bringing part of the core Mobike team with him. The name combines "ride" and "bit," for small and digital.

Business model

Rybit leases rather than sells e-bikes, earning recurring revenue from monthly all-inclusive subscriptions to private riders, students, delivery riders and corporate employers, and from B2B leasing and fleet-management contracts with delivery platforms, restaurant chains, logistics operators, hotels and bike shops. It also runs managed shared-mobility programs for governments and licenses or deploys its technology stack on its own, offering customers either the full platform or just the tech. A dealer channel lets bike shops carry Rybit bikes and earn recurring revenue.

Recurring monthly subscription and leasing fees for e-bikes, inclusive of servicing and theft protection, plus business fleet leasing, managed shared-mobility operations and dealer recurring revenue arrangements.

Traction

As of 2023 Rybit powered over 40,000 micro-mobility vehicles in 50 cities worldwide, generating about half a million emission-free miles per day, having provided leasing services in more than 50 cities over the prior two years. Its about page states it powers millions of rides across Europe, the US and Asia. Delivery clients cited include Domino's, McDonald's, Subway, Burger King and Pizza Hut, plus European and American food delivery platforms and logistics operators.

Latest developments

In July 2023 Rybit announced it had raised over $10 million from Cherubic Ventures, Colopl Next, Cornerstone Ventures, PCHOME, Chunghwa Telecom, AVA Angels and strategic angel investors, stating the capital would fund development of IoT smart hardware and software to serve growing B2B demand for e-bikes and other light electric vehicles.