Zipp plans to expand its e-scooter and e-bike operations in Ireland, UK and mainland Europe in coming months.
Leading micro mobility operator Zipp Mobility has closed a €6.1m funding round.
The rounds was led by Fasanara Capital, a UK-based asset manager, and follow-on investment from a number of existing investors.
“This funding will help us bring this approach to more cities and provide more people in Ireland, the UK and mainland Europe with sustainable, safe and community-centric micromobility solutions”
Zipp Mobility, established by Charlie Gleeson in 2019 and headquartered at NovaUCD in Dublin, is already a significant player in the European micromobility sharing market, having launched e-scooter and e-bike operations in nine (9) cities in the UK, Ireland and Poland.
Mobility done right
The funding, a mixture of equity and debt, will be used by the company to expand its e-scooter and e-bike operations in Ireland, UK and in mainland Europe in the coming months and to expand the Zipp growth and operations team.
“We are delighted to have secured this significant investment and backing from the Fasanara Capital team and existing investors. It’s great to have so many investors who believe in our long-term vision of ‘mobility done right’. This funding will help us bring this approach to more cities and provide more people in Ireland, the UK and mainland Europe with sustainable, safe and community-centric micromobility solutions.”
Previous to this latest funding round Zipp Mobility, an Enterprise Ireland high potential start-up, had secured a total of €2.1 million from a number private and angel investors including, former Irish rugby international Brian O’Driscoll and Barry Maloney of Balderton Capital, Enterprise Ireland, and through a crowdfunding campaign on the Spark Crowdfunding platform.
Davy Corporate Finance acted as financial adviser to Zipp Mobility on the transaction.
“We were attracted to investing in Zipp by their differentiated market position and unique value proposition to local government partners,” said Francesco Filia, CEO, Fasanara Capital.
“Zipp are an evolved player in the mobility space with a proven track record, sophisticated tech infrastructure and a quality-driven approach and we believe these factors will continue to drive the company’s success in this fast-growing market.”