Insights from Alexandre Molla, Co-Founder & CEO of Sharelock

SHARELOCK is revolutionizing the way bicycles are protected and shared with their innovative lock and insurance solutions. According to Alexandre, "Fear of theft is the main obstacle to bicycle usage". To address this issue, Sharelock has developed the first network of shared locks in the world, providing bicycle owners with protection anywhere, anytime, along with embedded insurance and many other sweet features.

To further enhance their impact, they have also developed a highly disruptive bicycle insurance that is simple, transparent, and reliable, with unique AI-backed features that allow them to gather and analyze unique mobility and theft data. This makes Sharelock the most advanced bicycle insurance, and the first to understand this new segment of insurance like no one else.

But that's not all - Sharelock's mission goes beyond financial success. They are also committed to creating a positive impact for the environment 🌍 With their insurance solution, 36% of policyholders have increased their bike practice, resulting in a close to 6% of yearly direct personal CO2 emissions. This is a significant step towards reducing carbon emissions and promoting sustainable transportation. Sharelock is already making a dent in protecting the environment!

So, what made Alexandre and his team launch Sharelock? "Everyone is aware of the paradigm shift currently happening, whereby the bicycle has evolved from a simple leisure activity to a full-fledged mass transportation solution," says Alexandre. "Unlocking further this practice by addressing specifically the main obstacle is thrilling to us. Our ambition is to massively unlock bicycle usage. The massive potential impact is at the heart of our ambition."

🚀Overcoming Challenges: From Blank Sheet to Commercial Deployment

Sharelock started from a blank sheet of paper with ambitious targets for reliability, delivery time, and overall costs. Finding the right partners was crucial to their success, and they were able to deploy their first 100 locks for beta users within just 6 months. Despite disruptions in the world supply chain, Sharelock's full-fledged solution was deployed commercially within 12 months, showcasing their determination and efficiency in overcoming challenges.

💡Game-Changing Decision: Accelerating the Launch of Insurance Solution

Originally, Sharelock had planned to launch their insurance solution several years after their lock solution. However, they made a bold decision to aggressively accelerate the launch of the insurance product, leveraging unique data gathering features developed for the locks. As Alexandre shares: “ Today, our insurance solution largely benefited from our locks solution from a legitimacy and visibility perspective. Close to 100% of our revenues come from our insurance line of business, which is currently showing very strong momentum from both a growth and a financial health perspective.”

🔑Advice for Entrepreneurs: Ownership, Humility, and Continuous Improvement

Alexandre's advice for aspiring entrepreneurs is centered around ownership and humility. “Ownership is about setting high standards, for ourselves, our team, our users. Being humble forces us to listen and learn in an evergreen iterative process. With process comes efficiency and speed, eventually helping ensure we stay ahead of the curve and keep on improving our game”.

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