VOI Technology Raises $85m to Put E-Scooters at the Heart of Urban Transportation in Europe

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

VOI Technology, Europes leading home-grown e-scooter operator from Sweden, today announced that it has raised $85m from new investors and existing to continue its mission of building a profitable micro-mobility business that transforms the future of urban transport.

Since its launch in September 2018, VOI has evolved from a startup to a visionary transport operator whose micro-mobility products are shaping cities in Europe.

The e-scooter operator will use the funding to continue building a profitable business in existing and new cities where it operates. Moreover, the capital will enable greater investment in R&D of VOIs in-house developed technology platform and next-generation vehicle lineup, leading to a quantum leap forward in customer experience, unit economics, operational excellence and sustainability performance. The funds will accelerate expansion of the micro-mobility companys product portfolio, allowing VOI to further monetise and strengthen its business operations and its position as the leading European micro mobility service provider. VOI has already reached profitability in several cities.

Fredrik Hjelm, CEO and co-founder of VOI, said: Theres been a huge demand for VOIs e-scooters from residents across Europe in the last 12 months but making a landmark change to transport in Europe takes more than simply flooding cities with thousands of scooters. We are developing a long-term business that gives people a new way of moving around cities thats clean, fast, convenient and also fun. We have seen the strongest unit economics of all of our peers and will continue to optimize and invest in that.

VOIs success stems from its collaborative approach to regulation, safety and sustainability, which sees it work closely with city authorities, other transport operators and policy makers to build a long-term vision to integrate e-scooters into transport networks across Europe.

Since its inception in 2018 VOI has expanded from its Stockholm base to operating in 38 cities across 10 European countries. Following launches in among others, Berlin, Munich, Hamburg, Helsinki, Oslo, Nuremburg, D¼sseldorf, Marseille, Bordeaux, Odense, Tampere, Turku and Winterthur this year, VOI has achieved 4 million registered users, who have taken over 14 million rides.

Per Brilioth, CEO of Vostock New Ventures, said: VOI is only at the start of developing micro-mobility based on Swedish values right across Europe. In Germany, in particular, there is a huge market to go for. We are excited that this additional funding will enable the company to introduce a new generation of e-scooters that are clean, good-looking and safe, enabling people to get around the cities they love quickly and easily.

Goldman Sachs International acted as exclusive Financial Advisor and Placement Agent in connection with the funding round. Hansen Law acted as VOIs legal advisor.

About VOI Technology:

VOI is a Scandinavian green mobility company offering electric scooter sharing in partnership with cities and local communities. We believe e-scooters can play a central role in changing how people move in our cities in the future. And we want to make sure that the transformation happens the right way – through real innovative technology, open and transparent dialogue with cities and Governments, and by adapting our product to local needs. Jump on a scooter whenever and ride wherever in the city in just minutes.

Assets here: https://www.voiscooters.com/press-room/

[email protected]

Kristina Hunter Nilsson

VP Communications

[email protected]

Antonella Scimemi

Burlington PR

[email protected]