October 3rd, 2025
Brussels, Belgium – Ahooga, the Brussels-based compact bike specialist, has secured €5.5 million in fresh funding to accelerate international expansion and continue engineering innovation. The round includes €3.5 million in equity and €2 million in debt financing. The round was led by a Belgian family office, alongside existing investors including Finance&Invest Brussels.
The funding will be used to expand Ahooga's dealer network, boost brand awareness, and prepare for entry into new markets. Ahooga will also invest in working capital and the further development of Max, its patented folding bike platform launched in early 2024.
Massimiliano Colosimo, Head of Sales at Ahooga, said: "Urban riders want bikes that fit into their daily lives, not just their commutes.
"With Max, we built a folding bike that rides like a full-size bicycle but folds down small enough to carry on a train or store in an apartment. That mix of performance and convenience is exactly what the market has been waiting for."
Engineering a Better Folding Bike
Unlike traditional folding bikes, Max features a patented "double triangle" frame that preserves structural integrity when folded. This eliminates the ride comfort compromises usually associated with compact bikes. "With Max, tubes are not broken for folding, so handling and stability remain intact," explained Colosimo, a former Toyota engineer.
This engineering-first approach means Ahooga doesn't see its competition as other folding bikes, but rather as the oversized 28-inch city bikes that dominate today's streets. "It's extraordinary that many bikes have wheels larger than those of scooters or even cars," added Colosimo. "Those dimensions make them impractical for modern city life; hard to combine with public transport and impossible to store without a garage."
Strong Dealer Momentum, Global Interest
In less than two years since launch, Max has built a network of over 120 dealer points across Belgium, Germany, and other European markets. The brand is now preparing for its first launch in Asia, with South Korea set to introduce Ahooga bikes later this year through a local distribution partner.
Dealers are responding to Max's uniqueness. The bike arrives fully assembled, requires minimal floor space, and attracts urban riders looking for a premium product.
Riding a Fast-Growing Market
The global compact bike market is valued at €5 billion and is expanding nearly twice as fast as the overall e-bike segment. "Cities are getting denser, apartments are smaller, and cars are being pushed out," said Thomas Moreels, Ahooga's Chief Engineer. "A 20-inch wheel bike gives agility, control, and dynamism that full-size bikes can't deliver in chaotic urban environments. Max is a superior urban bike, ... and by the way it also folds."
This growth comes despite headwinds in the wider cycling industry, where many brands are struggling with oversupply and declining consumer confidence. Ahooga is bucking the trend by offering a differentiated, design-driven product that solves a real urban mobility challenge.
About Ahooga
Founded in 2015 in Brussels, Ahooga's mission is to make cities happier by putting more people on bikes. Its folding models are recognized for their design and practicality—so much so that 90% of Ahooga riders report receiving spontaneous compliments from passersby. The company has won three Red Dot Design Awards, employs a diverse team of 20 people across seven nationalities, and continues to grow its dealer network worldwide.
Early backers include the Freshmen Fund, founded by Hendrik Winkelmans (ex-founder of fiets!/Bike Republic), with additional support from finance&invest.brussels. Former Stromer CEO Tomi Viiala also advises the company.
