Raphael Cohen, Gobee.bike CEO and co-founder, told CNBC’s “Squawk Box” that one of the biggest issues the company faces is vandalism. Still, he said that he thinks Hong Kongers are very good citizens overall and most people using the sharing platform are responsible

And Gobee.bike provides a real help for the city as a whole, Cohen said. The Chinese special administrative region has a problem with too many cars — and their illegal parking — so an influx of easy-to-use bikes could be a solution, he explained.

“The bike takes a lot less space than a car for parking,” Cohen told CNBC. “Gobee.bike can be complementary to the existing system like the subway … you can take the Gobee.bike from your home to the MTR Station or from the MTR to your office.”

As for where Cohen’s company is looking to grow, he pointed to the New Terrtories region of Hong Kong: “It is actually very well-equipped for bicycles already,” he said. “You have about 200 kilometers of bike lanes … you have 57,000 bicycle parking spots and you already have a bicycle culture.”