The European Investment Bank announced on 8 October a €12 million loan to Fazua GmbH, the Munich-based startup that develops drive systems for e-bikes.

The funds are being made available through the EU bank’s Venture Debt Product, a type of risk capital for innovative companies.

The loan is backed by a guarantee from the European Fund for Strategic Investments, a core component of the Investment Plan for Europe, also known as the Juncker Plan, that aims to boost the competitiveness of the ...