Micromobility operator Zipp Mobility has closed a €6.1 million funding round to expand its e-scooter and e-bike operations in Ireland, Britain and Europe. The company also plans to expand its growth and operations team.
The round was led by UK-based Fasanara Capital, a fintech-focused capital provider. Previous investments by the company include Playter and Stashfin. A number of existing investors also participated in the round.
Founded by Charlie Gleeson in 2019, Zipp Mobility is headquartered in NovaUCD, in Dublin, and has launched in nine cities in Ireland, Britain and Poland. It launched its first service in Ireland in March, with a shared e-bike service as part of a pilot scheme with Dún Laoghaire-Rathdown County Council.
“It’s great to have so many investors who believe in our long-term vision of ‘mobility done right’,” said Mr Gleeson. “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.”
This is Zipp Mobility’s largest funding round to date. The company previously raised €2.1 million from a number of private and angel investors, with former Irish rugby international Brian O’Driscoll backing the company alongside Barry Maloney of Balderton Capital, Enterprise Ireland, and a crowdfunding campaign on the Spark Crowdfunding platform.
“We were attracted to investing in Zipp by their differentiated market position and unique value proposition to local government partners,” said Francesco Filia, chief executive of Fasanara Capital. “Zipp is 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.”