New Market Entry
V2X
Exploring use of Telematics in the UK
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Felyx
Getting ready for Germany
The Challenge
Felyx offers shared electric scooters as a new and disrupting urban mobility concept. Customers “rent” e-mopeds via an app to get around town quickly, helping to reduce air pollution, congestion and much more.
Felyx previously expanded into Belgium which was a valuable experience in learning the importance of a localised approach. This was critical learning.
The next step is to expand into Germany. The team entered Compass to learn whether or not it was the right market for them and how they should formulate their market entry strategy.
Quick Facts
- Founding year: 2017
- % women in C-level: 0
- Industry: Mobility & Transportation
- Total Funding: €24 mil (as of March 2021)
- Expansion priorities: Market attractiveness, feasibility, product, price, customer, GTM, org. setup
- Offices + HQ: Amsterdam (HQ), Rotterdam, The Hague, Brussel
The Approach
Lessons from Compass
Understanding cultural differences
What has been successful at home may not always translate well into new markets. Felyx’s success is based on using a hyperlocal approach to solving multiple local problems rather than applying one solution to the country as a whole. This is a disruptive city hacking approach, carefully analysing scooter density, adopting local community/district strategies and continually refreshing the product mix.
Local competition - how to distinguish yourself from the rest.
In Germany, e-scooter competition is established and each brand comes with unique differentiators that need consideration, becoming the brand of choice at each community/district level is vital. This involves understanding scooter usage rates, availability, the return of scooters to hot areas and establishing local partnerships.
MESSAGE TO OTHER SCALEUPS
Growing a business in your home market is very different to growing in a foreign market, beware!
Due to its rapid pace, you can run into a lot of growing pains, so planning and preparing first will save you time and pressure.
I like the fact that your approach is more scientific and the advice you gave us is very actionable. It is the same way in which we strive to do things within Felyx.
Quinten Selhorst
The Results
Before vs. after the programme
Our thinking has definitely changed. We will be re-evaluating our HR focus and looking at new market tactics for a more local approach.
Next Steps
We are launching in Dusseldorf now! and next city soon after. A lot of performance monitoring and a lot of hiring are also coming up.
New Market Entry
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