Company launches round of investment to relaunch brand, with sustainable new edge
Famel has launched a round of investment to relaunch the legendary Portuguese motorbike brand, and has already received €2.45 million from the Novus fund, managed by Magnify Capital Partners, in partnership with the country’s State-owned development bank, Banco Português de Fomento.
“We realised that the capital needed was much greater than what we had at the beginning and we went looking for it. That’s why we’re opening this round to private investors because we felt over time that there were people and organisations interested in participating in the project,” Famel’s CEO and re-founder, Joel Sousa, tells Lusa.
The new version of Famel will mainly incorporate European components, half of which are made in Portugal.
At the same time, the brand wants to include sustainable materials in future bike models.
The highlight is the revival of the XF-17, adapting it to the demand for sustainable mobility solutions.
At the moment, Famel already has around 100 reservations, but intends to accelerate this number through the investment round.
Production is due to start next year in Anadia, near Águeda.
“The following year, the aim is to have 700 more (orders). By 2029, we want to be producing around 2,000 bikes a year,” said Sousa.
The first should be delivered “in the spring of next year”.
“Those who have pre-ordered until today have an ambassador bike, with refined touches. It is a limited edition. Ambassador investors will get an even more special version. We have an ambassador who bought one to put in his living room,” he quips.
The main market will be Europe, but the brand already has requests from Portuguese communities, particularly in France and Germany.
“Ten years ago I had the dream of taking a historic Portuguese brand and restoring it. Famel is a well-known brand that is in the hearts of the Portuguese. It was a lot of this history that made me fall in love with the brand and want to bring it back,” said Joel Sousa.
Although Famel has historically been closely linked to rural villages, the new team wants to bring it to the big cities by adapting new models.
Customers will also be able to customise their vehicles, “which will have an artificial intelligence component to develop their efficiency.
“This is all about technology and sustainability, and that’s what has made us open doors to new investments,” Sousa added.
Pedro Ortigão Correia, a partner at Magnify Capital Partners, told Lusa that the Novus fund invests in companies that are in a start-up, growth or expansion phase. It believes Famel has the competence, market and capacity to expand abroad.
According to Ortigão Correia, the Banco de Fomento will have a holding of more than 60% in the fund, which in turn will have around 10 investments, including in Famel.
The capital of the Portuguese company will thus be held by the brand’s partners and the investment fund, “which will have a considerable percentage”, although the final figures are not yet known.
Private investors have to put up a minimum of €10,000.
Famel was founded in 1949 as a metal rim factory and began production the following year.
Source: LUSA
