About

Locate, scan and ride the nearest e-moped to your end destination via our app.

Solution & Product

Commuting should not be complicated. Instead of worrying about traffic and parking, penny provides a cost-efficient, stress-free and sustainable way to move around the city. Simply locate, scan and ride the nearest e-moped to your end destination via our app.

Innovation & Scalability

Contactless in-app payments, real-time tracking, customer verification in seconds, as well as 24h customer support (AI) guarantees a seamless user experience. Each e-moped is equipped with positioning systems as well as built-in alarm preventing theft and misuse. User benefits from different pricing options tailored to each individual's needs such as subscriptions, top-ups as well as after-the-ride pricing for the early adopters. Car ownership will become harder and less meaningful for the daily commutes of an average person, as costs associated with owing a car will increase disproportionately to that person's income. This will also decrease the utilization that person enjoys by having a car. As per Equidam and Statista the TAM of moped ride-sharing market in Europe in 2025 is 282m € eventually reaching 394m € by 2027, an impressive 40% increase in 3 years. Our base-case scenario projects a market capture of 3.8%. In other words, our SOM in 2027 would be 10.7m € (394m € * 3.8%). We aim however for our high-case scenario which projects 5.7% of market capture, which translates to a SOM in 2027 of 16.1m € (394m € * 5.7%). The reasoning behind the high-case scenario preference is because the company is growing at a higher rate vs the total market (4% year-over-year).

Traction & achievements

The biggest measurable environmental impact after 1-Year of operations (MAY-24 to APR-25) came from direct operations (gCO2/km driven) at ~2,4 tons of CO₂ saved. Penny managed to operate at very low electricity consumption relative to CO₂ saved from direct operations resulting in high sustainability impact on a per-moped basis . From MAY-24 to APR-25 revenue increased by 339% and are increasing by ~15% on average QoQ. During this time Penny was counting more than 4,000 users, expected to reach 10,000 by YE'25. Our exhibited case study involved a system of 50 e-mopeds, and a small warehouse for battery charging needs. After 1 year of operations and more than 16000km driven we have saved collectively 2.4 tons of CO₂ relative to car ownership. This number represents 36 rides per user per month with an average per ride distance of approximately 4.2km. To achieve the functionality of our case study, we used approximately 5,000 kWh for battery charging, which is half the amount of kWh (11,800) an ICE car consumes annually. In other words, we could support the charging of 50 additional e-mopeds to reach the annual energy consumption levels of a car, while saving twice as much CO₂ (2 x 2.4 tones).

Team & Why Us

Andreas(M)(GR) is 33 y.o and comes from Thessaloniki, Greece. He holds a Bachelor's degree in Accounting & Finance and has 4 years work experience in Finance in Austria planning and budgeting for more than 1000 employees. He came back to Greece in 2023 to pursue this unique project, founding Penny. Andreas is responsible for the Operations, Finance, Administrative and IR. Konrad(M)(PL) is 30 y.o. and comes from Wroclaw, Poland. He holds a Bachelor's degree in Economics from Wroclaw University of Economics, has 10 years management experience in F&B industry in which is also actively involved as CEO of coffee roasting business distributing to 4 continents. He was managing real investment fund for over 4 years in Poland and directing research project with Science University of Lublin to create automatic throttle for ultralight planes. Overall, he managed to obtain more than 1 million eur from EU subsidies. Konrad handles IR.

Funding Needs

Our ask is is 150K 57% - CAPEX 20% - R&D 9% - Operations 8% - Sales & Marketing 5% - Others 2% - Inventory