European micromobility startup Reby acquired by PE participant Home of Lithium for $100M – TechCrunch

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Based in 2018, European micromobility startup Reby took an fascinating path. It deployed e-scooters within the metropolis of Zaragoza (Spain), in the course of the COVID-19 pandemic, but additionally created a SaaS-oriented “MaaS” (mobility-as-a-service) platform. It then gained 18 agreements with public administrations for e-mobility throughout Italy and Spain, just below the radar in contrast with giant, well-funded gamers like Tier, Voi and Bolt. In different phrases, without having to turn into a big participant, it secured the sorts of European municipal licenses coveted by micromobility gamers.
Based by 4 entrepreneurs (Pep Gómez, Kiran Thomas, Cristina Castillo and Guillem Pagès), Reby has now been acquired by Home of Lithium, a Canadian non-public fairness agency, which was already a big shareholder within the firm. The agency invests in non-public and publicly listed entities concerned in or linked with the electrical mobility worth chain. The transaction is priced at $100 million. The corporate’s founder, Pep Gómez, with the remainder of the administration group, will proceed managing Reby. The corporate says it closed the 12 months with roughly $15 million of income with roughly $3 million EBITDA.
Reby had raised a complete of $17.9 million from EXOR, 14W Ventures, Neo Fund, Gasoline Capital, Laborious Yaka, Day One Ventures and a few angels similar to like Simon Rothman (Founding father of eBay Motors and board member to Tesla and Lyft), Marcelo Gigliani (APAX Digital) and Hugo Arevalo (Jobandtalent).
In a press release, Kevin Taylor, chairman of Home of Lithium, stated:
Combining Reby’s main IoT know-how and confirmed ride-sharing enterprise mannequin with Home of Lithium’s manufacturing, distribution, e-commerce and retail belongings will contribute to creating an end-to-end mobility platform to maximise top-line alternatives and bottom-line outcomes.
Reby made some extent of producing its personal automobiles, eschewing Chinese language-made scooters; working solely below exclusivity with metropolis corridor agreements; and financing automobile investments largely with asset-backed debt.
Gomez added:
The monetary capability and capital markets experience of the Home of Lithium group makes this an awesome partnership with the additional energy that Reby must proceed its development … The time for EV corporations burning cash with synthetic development is over, giving us a large alternative to win in an untapped market specializing in infrastructure regulation and R&D growth in safety and public area occupation, which is crucial for cities.
Reby is the second enterprise for Gomez, who at 19 years previous was the only real founding father of the Fever experiences app, which has raised $298.8 million to this point and was backed by Goldman Sachs, Accel Companions and Rakuten, amongst others.

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