Lime gathers 523 million dollars

The electric scooter and e-bike sharing provider Lime has raised 523 million US dollars in an oversubscribed financing round. With the fresh capital, among other things, Lime wants to bring its vehicles to more cities. Lime is also aiming to go public in 2022.

ADG, Fidelity and Highbridge as well as the ride-hailing company Uber participated in the financing round, a mixture of convertible bonds and debt financing. The exact amount of the respective investments and shares has not been disclosed.

Part of the money will be used to push the introduction of the Gen4 e-bikes, which were presented in March. Lime has not yet announced specific cities or numbers of units. In addition, the capital will be used to drive innovations that further decarbonise Lime’s supply chain and ensure that the company always put “the most sustainable hardware on the road,” says the micromobility company.

“This oversubscribed round is a testament to the strong business we’ve built and the overwhelming confidence we’ve received from the financial community,” said Lime CEO Wayne Ting. “This investment secures our path to take Lime public in 2022 and will allow us to double down on our newest generation of e-bikes and e-scooters, as well as additional modes, to ensure people have reliable access to affordable, shared, carbon-free transportation.”

This statement from the company’s CEO does raise the question of just what it has in mind in terms of other transport modes.

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