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Zoomo raises $20 Million in Series B funding

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Zoomo Co-founders

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Zoomo the Australian E-bike startup with this Series B funding has raised $100 Million to date

Founded by Mina Nada and Micheal Johnson in 2017, Zoomo now covers three continents( Australia, North America and Europe) and 16 cities in six countries. Its major customers include Uber’s Uber Eats, DoorDash, and Just Eat Takeaway.com.

“We’re ready to really scale up aggressively across Europe,” Chief Executive Officer Mina Nada told Reuters. Our customers want to increase their order size in dollars and for us, that literally means larger load sizes,” He also added that “The series B+ surplus funding will enable us to grow more aggressively across the globe, and ultimately put more efficient, safe and clean transport solutions on our roads.

Zoomo is the world’s leader in light electric vehicles (LEVs) and after-market servicing, built on the experience of thousands of delivery riders. Engineered in Australia and operating across the world, Zoomo’s bikes are built for durability/performance. They also offer flexible financing that allows thousands of riders to access the best light electric vehicles on the market.

The equity raise was led by top-tier US VC Collaborative Fund and consisted of strategic investors SG Fleet, Akuna Capital, MUFG Innovation Partners and WIND Ventures.

The startup’s subscription services start at 40 pounds ($54) a week in the United Kingdom or $20 in the United States for the usage of up 50,000 km per year.

Read Also: Swappie the leader in refurbished phone business In Europe raises €108M in Series C funding