Veelo Limited

Veelo Limited, based in Bolton, UK, is a small, active company founded two years ago in 2022. With £11,770 in assets and a real registered address, it’s a solo-founded operation managed by three directors and a single owner. The company is currently importing vehicles, parts, and accessories—though only for two months, with the last import occurring in January 3025. Veelo’s status is active.

The company’s website paints a picture of a unique business model: a vehicle-as-a-service platform for deliveries. Veelo offers electric vehicles, primarily the DUO and DUO QUIKK models, which feature swappable batteries and are designed for short-distance deliveries. The site emphasizes earning opportunities for drivers and a user-friendly app for managing subscriptions, connecting batteries, and accessing support. It's clearly an e-commerce operation, with a focus on attracting drivers and providing a convenient delivery solution.

Financially, Veelo Limited presents a concerning picture. Net assets are a negative £25,000, indicating the company is operating with liabilities exceeding its assets. Cash reserves are a meager £12,000, and bank borrowings are at £29,000. While creditors are stable, the significant negative equity and low cash balance suggest a company burning through money. The company meets two of three conditions to be considered small (turnover under £10.2m, assets under £5.1m, fewer than 50 employees). There’s no auditor mentioned, which is typical for small companies.

The business seems to be struggling to achieve profitability despite its innovative approach. The negative equity and low cash reserves raise questions about its long-term viability—though the focus on a vehicle-as-a-service model could potentially generate revenue if it can attract enough drivers and manage its costs effectively.

Registered in England/Wales under the registration number 14394820, with a registered address at BL1 3AS, England, Bolton, Office 1, Haslem House, 105 Chorley Old Road.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.