Doesn’t start with starter

[alex46]

I installed a new battery (with 12.5 v on it) on my 2015 Ruckus and after one day of riding, it doesn’t start with the starter, but easily starts with a kick starter. I checked the voltage on the battery and it was 11.8 v. My guess was that either regulator(rectifier), or stator does not work and battery was not charging. However, I checked the voltage on the battery under the load and it showed healthy 14.14 v. This should mean that the charging system works properly.
Any idea on where the problem might be?
Thank you in advance for any suggestions