Spintop portfolio company Donkey Republic welcomes Niels Henrik Rasmussen as new CEO, replacing co-founder Erdem Ovacik. Niels Henrik Rasmussen, former CEO for Penneo and Secunia, is hired to continue the development and growth of Donkey Republic following the IPO last year. 

With the ambition to strengthen and professionalize Donkey Republic Niels Henrik Rasmussen is appointed as new CEO. Niels Henrik Rasmussen replaces cofounder Erdem Ovacik who will take on a new role at the company, as an Executive Board Member in a working role which includes promoting Donkey Republic’s values externally and advising the CEO and Board on Donkey Republic’s vision, strategy, products, and markets. 

Erik Wenngren, partner and Co-founder of Spintop Ventures says: 

Niels Henrik Rasmussen is a highly experienced growth company CEO and will bring Donkey Republic to the next levels of growth.”

Donkey Republic was established in 2014 as one of the first companies in the micro-mobility market with its unique bike-sharing solution. The company has grown significantly since and is today present in 14 different countries. In 2021 the company was listed at Nasdaq First North Growth Market Copenhagen.   

Niels Henrik Rasmussen says:

”It is quite amazing what Donkey Republic has achieved over the past 8 years, both in the way we all transport ourselves in cities, and as a company. Donkey Republic has a unique offering to cities all over Europe and has already proved it by being present in more than 60 cities. We therefore have a very strong foundation for realizing our growth ambitions and at the same time making Donkey Republic a more profitable company, while we maintain the company’s strong focus on ESG. I look very much forward to developing the company even further together with the entire Donkey Republic Team.”  

Erdem Ovacik says:

“Donkey Republic simply offers the best bike sharing solution to cities and we are entering a new phase of growth. I consider Niels Henrik a great new leader of the company with his entrepreneurial background and value-driven approach. I remain fully committed to the company as an executive board member and I look forward to supporting Niels Henrik with my knowledge, vision and strategic insights.”