Donkey Republic expansion in Belgium: Final contenders for 10-year contract with Antwerp

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Donkey Republic is entering into contract negotiations for a 10-year MaaS-contract for 1,650 electric bicycles with the Antwerp region in Belgium. As previously announced the operation of the contract is expected to start during 2022 and when fully up and running to generate an annual revenue of EUR 2-3 million.

As previously announced this year Donkey Republic was selected as the preferred tenderer on Antwerpen’s public contract for a regional shared system with e-bikes. Today Donkey Republic is excited to announce that there have been no supported contenders and we are moving forward as the only contenders for the contract. Donkey Republic and Lantis (Antwerp contracting authority) will now enter into negotiations on the terms of the contract. Subject to negotiation of satisfactory terms, an agreement is expected to be executed in Q3 2021.

The overall terms of the anticipated contract are for 1,650 bikes in operation from 2022 on a 10-year contract operated by Donkey Republic (MaaS). The contract is estimated to generate an annual revenue of EUR 2-3m once it is fully up and running of which EUR 1.7m are revenue from public financing (B2G) and the rest are expected revenues from riders and bike ad sponsors. The deal also entails an option for an additional contract for even more bikes in the region.

“Donkey Republic is thrilled to support mobility challenges in the Antwerp region especially for citizens with difficult access to public transport and work together with our contracting authority Lantis on improving and developing affordable, convenient and sustainable transportation solutions for the region's citizens. We look forward to giving people access to Donkey Republic e-bikes from shared mobility hubs that will be placed all over the region.” - Erdem Ovacik, co-founder & CEO at Donkey Republic


This project was made possible in part thanks to support from the European SCALE UP project.


  • MaaS-contract for 1,650 electric bicycles

    • 1,500 electric bicycles in the Antwerp transport region
    • 150 electric bicycles in the Waasland transport region
  • Estimated EUR 2-3m in annual revenue

  • Contracting Authority: Lantis 

  • Contract negotiation is expected to finish Q3 2021
  • Expected Launch: Spring 2022
  • Duration: 10 years

Impact on business plan 2022-2024:

“Belgium has for a long time been a focus market for Donkey Republic. We are thus happy to see our strategies are working which makes us optimistic concerning reaching our  2024 goals. Antwerpen will likely give us a strong start into our 2022 targets, and lay ground for continued growth and a rise in more activity in Belgium.” - Erdem Ovacik, co-founder & CEO at Donkey Republic

Final award is subject to negotiation and execution of a satisfactory service contract. Antwerp has awarded Donkey Republic the deal and the offer is legally binding. Donkey Republic will update on potential impact when the contract is signed.




DonkeyRepublic Holding A/S

Erdem Ovacik, CEO
+45 26 37 29 96
Investor website:

Katrine Arevad, Public & Investor Relations Manager
+45 53 53 43 31

Christians IX’s Gade 7
DK-1111 Copenhagen K 


Donkey Republic is a leading provider of end-to-end bike-sharing solutions. The Company is expanding across Europe and as of Q1 2021 it operates +10,100 bikes in 15 cities as Mobility-as-a-Service (“MaaS”) provider as well as licenses its platform as Software-as-a-Service (“SaaS”) to partners operating +2,700 bikes across +60 cities. Based on its proprietary software at the core, Donkey Republic offers cities and local partners a fully integrated turn-key solution, including software critical to all stakeholders, bikes, operations, and support services. Donkey Republic taps into megatrends such as sustainability, sharing economy, and urbanisation, and has a vision of making city life better for everyone with affordable and responsible bike-sharing.