Spanish e-bike subscription company Panot has increased the number of its subscriptions by 150% in the last seven months.
The company expects to double its number of subscriptions, exceeding 1,500 by the end of the year.
Currently operating in Barcelona, Panot aims to expand into more Spanish cities by 2025 before internationally scaling in 2026.
“First, we wanted to ensure that our business model gained strong traction locally and that’s exactly what we achieved. After validating the project in Barcelona, we confirmed its significant market potential,” Panot Co-Founder Didac Sabaté told Zag Daily.
Didac told Zag that Panot initially launched in September 2021 with a B2B model focused on renting or leasing e-bikes to businesses, and the company currently serves entities such as Allianz and Primavera Sound. However, after studying the market, Didac and co-founder Álvaro Ovejero noticed the shift from vehicle ownership in favour of subscription models.
“This is partly due to the new mobility culture emerging in cities where consumers seek flexibility and are unwilling to deal with issues such as theft, and prefer not to commit to purchasing expensive products.
“For this reason, we found it essential to introduce the concept of service-based mobility designed to meet all users’ needs and free them from concerns related to technical assistance, repairs, theft protection, and delivery.
“In our business model, these challenges are fully addressed as service is the core element of the product offering and included in the price of each plan.”
Panot’s e-bikes include anti-theft systems and tracking technologies. The company offers bike maintenance assistance in cases of breakdowns or punctures, and replacement bikes if the bike is stolen.
As well as individual e-bikes, Panot’s ‘Panot Bus’ is an e-bike that can transport up to two children as well as the rider. Featuring a range of 100 kilometres, Panot’s bikes have a central motor, disc brake and wide wheels for stability.
Integrated IoT monitors kilometres travelled, routes taken and CO2 emissions avoided, and Panot is launching a mobile app to inform its users with valuable information like predictive maintenance and add to the enjoyment of cycling.
