Cityscoot collects fresh financing of 40 million euros

The French electric scooter company Cityscoot has secured additional financing valued at 40 million euros. They plan to seriously expand in Paris and beyond, expanding to additional cities, including Nice, and three other cities, which have not yet been decided. One is set to be in France, one in Switzerland, and one in Italy. 

The French startup announced the 40 million euro financing round yesterday, and is receiving money from investors such as RATP Capital Innovation and Caisse des Dépôts. Currently the company operates around 1,600 electric scooters in Paris, which can be booked via a mobile phone app and used around the city.

By the end of 2018, they plan to have a fleet of 5,000 scooters operational in the French capital, as well as introducing the short-leasing model to a few other European cities. While they locally compete with Coup, the user statistics for the startup  (7,000 to 9,000 unique daily rides) are promising and expansion will likely leave them a larger player in the electric scooter leasing niche.

techcrunch.com, cityscoot.eu (In French)