Engagement — Add-on Due Diligence
Code & Co. provides Tech & Product Due Diligence to Brockhaus Technologies and its portfolio company Bikeleasing Group ahead of their investment in Ridepanda, an e-bike benefit service for employees.
Ridepanda, an e-bikes-as-an-employee-benefit platform, founded by industry veterans from Lime, Bird, and Scoot, announced it secured a total of $12.6 million in new capital, combining a growth equity round with new strategic debt financing. A new investment from the Bikeleasing Group, one of Europe's largest corporate-sponsored bike leasing providers, anchored the funding along with participation from existing institutional investors Blackhorn Ventures, Yamaha Motor Ventures, Proeza Ventures, Somersault Ventures, Oyster Ventures, Courtyard Ventures, and new partnerships with CSC Leasing and Camber Road.
Scope of Work
Code & Co. provided Tech & Product Due Diligence to Brockhaus Technologies and Bikeleasing Group. This included an assessment of Ridepanda’s vertically integrated mobility platform, including its architecture, infrastructure, and technology stack supporting scalability, configurability, and enterprise readiness.
Code & Co. also analyzed the product roadmap, partner integration capabilities, and operational scalability. Furthermore, the engineering organization, development processes, and quality management practices were evaluated to ensure sustainable growth.
About Ridepanda
Co-founded by Chinmay Malaviya and Charlie Depman in 2020, Ridepanda provides enterprise partner companies with a turnkey platform for employees, offering monthly subscriptions to a broad selection of e-bikes and scooters, subsidized through their benefits package. Ridepanda is on a mission to help public agencies and enterprises enhance the physical health and mental well-being of their employees, while creating more efficient cities that operate on small, quiet, eco-friendly electric vehicles. Ridepanda partners, including Amazon, Google, OpenAI, Intuit, and the County of San Mateo, are providing national support to their offices across the country. Ridepanda’s employer partners benefit from improved employee wellness and retention, a more positive return to the office, reduced drive-alone rates, and enhanced Environmental, Social, and Governance (ESG) reporting. The company is backed by investors including Blackhorn Ventures, Yamaha Motor Ventures, Porsche Ventures, Proeza Ventures, General Catalyst, Somersault Ventures, Moving Capital, Alumni Ventures Group, Lorimer Ventures, Oyster Ventures, 0 Ventures, and Lime’s Co-Founder, Toby Sun. For more information, please visit www.ridepanda.com and follow on LinkedIn.
About the Bikeleasing Group
The Bikeleasing Group is one of the leading providers of sustainable cycling mobility and modern employee benefits in the German-speaking world. More than 80,000 companies with over 4 million employees already rely on the Group's solutions. The comprehensive service portfolio combines all relevant services from a single source - from company bike leasing with comprehensive insurance cover and service package to tax-free employee benefits via app and the marketing of high-quality, quality-tested used bikes. At ten locations in Germany and Austria, more than 500 employees are driving the expansion of sustainable mobility and making attractive benefits easily accessible to companies and employees.
About Brockhaus Technologies
Brockhaus Technologies AG is a private equity firm. The firm specializes in emerging growth, middle market, later stage, mature, growth capital and buyout investments. It seeks to invest in B2B, telecommunication service, internet software, e-commerce software, constructing, engineering, health care technology, other specialty retail, software, Infrared sensors, healthcare technology and technology companies. It seeks to invest in Germany, Austria and Switzerland. It operates as a technology holding company that acquires and holds majority stakes in growth companies in the German speaking region. Brockhaus Technologies AG was founded in 2017 and is based in Frankfurt am Main, Germany. https://www.brockhaus-technologies.com