French startup Cityscoot is one of the leading scooter-sharing service providers in the country. Founded by Bertrand Fleurose in 2014, the company now operates in Paris, Nice, Milan, and Rome. Users can book scooters through their official app with just three clicks. Back in October 2019, Cityscoot teamed up with Uber to let commuters in Paris book e-mopeds and pay directly via the latter’s app.
Secures €23.6M funding
In a recent development, Cityscoot secured $25.6 million (nearly €23.6 million) funding from Allianz France and Demeter. Even its existing investors such as Groupe RATP and Banque des Territoires have taken part in the investment round. With the investment, the company aims to open its service in two new European cities in 2020 and increase its fleet to have 8,000 electric mopeds.
Betrand Fleurose, CEO and Cityscoot founder said that this financing round enables the French micromobility startup to “be a leading player in the development of soft mobility in the heart of metropolises.” He explained: “After recently joining the Next40 club and announcing a strategic partnership with Uber, this fundraising is a new proof of confidence in our ability to continue our development.”
Eyes for expansion!
Cityscoot strives to expand with a gradual and well-considered approach after discussing with local authorities and municipalities. Ever since it was launched in Paris, the company has gradually deployed a fleet of 7,000 electric mopeds in Paris, Nice, Milan, Rome and neighbouring municipalities. Also, Cityscoot is in plans of debuting its service in Barcelona in May 2020.
What’s in for competition?
When it comes to competition, Cityscoot faced competition from Coup, a German electric moped sharing company. However, the latter stopped its e-scooter sharing services back in November last year. While this could be a great relief for Cityscoot, Tier Mobility based in Berlin announced that it will take on the electric moped scooters from Coup and expand its service into this sector. And, as this micromobility is a new and disruptive field, a tough competition is awaited from other electric scooter startups as well.
Main image picture credits: Cityscoot
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