The operator of shared electric scooters Cityscoot has raised 26.3 million euros from several investors including Allianz, RATP and the Bank of Territories (Caisse des Dépôts) to continue its development, in particular in Paris and Barcelona, a- he announced on Monday.
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Launched in 2014, Cityscoot is now in a monopoly in its Parisian stronghold, where its competitor Coup, a subsidiary of the equipment supplier Bosch, has just stopped its service. The capital raising is accompanied by debt financing of 6 million euros for its fleet of scooters, bringing the total raised to nearly 30 million euros. Cityscoot plans to continue its expansion with 500 new scooters in Paris by June 2020, bringing its total fleet to at least 4,300 machines.
The company is also present in Nice, Milan and Rome. It will launch in the spring in Barcelona, and " another European city is in preparation " for 2020, according to her. In an interview with the Journal du Net last week, Cityscoot general manager Bertrand Fleurose said that the company's turnover had increased by 70% in 2019. The strikes in transport in December in Paris in particular gave a boost to its activity.
Cityscoot carried out in December, then in January, the " best months of its history " in Paris, she indicates. Cityscoot, which has just announced an increase in its rates in the capital, claims to be profitable in Paris, even if " it is not yet at the enterprise level ", according to Bertrand Fleurose.
