Irish micromobility operator Zipp Mobility has announced that it has closed a €6.1m (£5.1m) funding round led by Fasanara Capital, a UK-based asset manager, and follow-on investment from a number of existing investors.
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, the UK and in mainland Europe in the coming months and to expand the Zipp growth and operations team.
Zipp Mobility, established by Charlie Gleeson in 2019 and headquartered at NovaUCD in Dublin, currently manages e-scooter and e-bike operations in nine cities in the UK, Ireland and Poland.
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Charlie Gleeson, CEO and founder, Zipp Mobility, said, “We are delighted to have secured this significant investment and backing from the Fasanara Capital team and 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.”
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Previous to the latest funding round, Zipp Mobility had secured a total of €2.1m (£1.8m) 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.
