3 Reasons Why Mozaic invested in Renter

Let’s talk about delivery riders for a second. They’re the unsung heroes of the gig economy, racing through city streets to bring us our dinner, groceries, or that one thing we forgot to buy last-minute. But here’s the truth: most delivery riders simply lack access to reliable transportation options.

Meet Renter, our portfolio company – a startup solving this problem in the coolest, most straightforward way: affordable, fully-maintained e-bike subscriptions built specifically for delivery riders. 

Here are three reasons why Mozaic invested in Renter.

Reason #1. Market: The Last-Mile Delivery Boom

Before diving into Renter, let’s look at the market. The global last-mile delivery market is expected to grow by USD 165.6 billion from 2022 and 2027, with companies like Glovo, Bolt, and Uber Eats aggressively expanding across Europe and beyond. Romania, for example, saw 22% year-on-year growth in online food delivery in 2023, with no signs of slowing down.

But there’s a massive bottleneck: transportation. Delivery platforms depend on riders, and those riders depend on reliable, affordable transport to stay productive. When delivery fails, customer loyalty takes a hit. That’s why logistics giants like Glovo have started introducing fleet support programs—but owning fleets is costly and complicated. This is where Renter comes in, swooping in with a solution as slick as their e-bikes.

Reason #2. Product: Why Renter?

Renter is to delivery riders what Netflix is to movie buffs—convenient, affordable, and just makes life easier. Their model is simple:

• Long-term e-bike subscriptions built for delivery work.
• Hassle-free maintenance included (we’re talking repairs or replacements within 30 minutes).
• Features couriers love: 12-hour battery life and GPS anti-theft systems and a design focused on comfort.

But what’s even more exciting is who they’re solving for. Delivery riders are often immigrants or freelancers, with limited access to credit or affordable transportation options. Renter gives them a tool to maximize their earnings—without burning through their savings.

On the other side of the equation, 3PL (third-party logistics) companies like Glovo and Bolt need a way to keep costs low and productivity high. Owning e-bike fleets isn’t just expensive—it’s a headache. Renter’s subscription model takes that burden off their plate entirely. It’s a win-win.

Reason #3. Traction: Real Results, Not Hype

Renter’s rapid growth isn’t just luck—it’s the result of a focused, ambitious team that knows how to execute.

• Daniel Trohin (CEO) leads the charge on strategy and funding, securing €250,000+ as investments, loans & grants to fuel their expansion.
• Marin Toma (CSO) is the driving force behind customer relationships, bringing in 10+ B2B clients and many B2C, maintaining a 100% B2B retention rate—no client who joined has ever left.
• Grigore Gherdelescu (CTO) built the tech systems that keep operations running smoothly, from inventory tracking to billing automation.

In just one year, Renter achieved 10X revenue growth, reaching €25,000 in monthly recurring revenue. The fleet has grown to 176 e-bikes, and there are already over 250 riders on a waiting list. This momentum, built entirely through word-of-mouth, showcases both the demand for Renter’s solution and the trust they’ve built with their customers.

The Future Is Green and Profitable

Here’s a fun fact: e-bikes are projected to account for over 50% of all bicycles sold in Europe by 2030. Why? Because they’re efficient, eco-friendly, and perfectly tailored for urban environments. This electrification wave has opened the floodgates of opportunity—not just for consumers but for industries like logistics and delivery. 

Renter’s plan for 2025 is ambitious but realistic: scaling from 176 to 600 e-bikes, expanding into new cities. By combining proven results with a clear vision, Renter is set to become a key player in the rapidly growing e-bike market, paving the way for a more efficient and sustainable delivery ecosystem.

If you want to get more about our Mission & Investment Thesis, check this blog post.