Dutch e-bike company VanMoof declares bankruptcy amid financial hurdles

Dutch electric bike maker VanMoof, whose popularity earned it the name “Tesla of e-bikes”, has been declared bankrupt by a court amid financial problems, the company said on Tuesday.

The company raised $128 million in September 2021 to expand as it rode a boom in the e-bike sector after the Covid-19 pandemic prompted people to seek alternative means of transportation.