Zipp Mobility has raised over €400,000 after launching a new crowdfunding campaign to help support growth into new markets.
Launched on the Spark Crowdfunding platform, the campaign is an extension of its seed round and, along with €600,000 from private investors, will bring its total investment to €2 million.
The funding will be used to acquire over 2,500 e-scooters as the company looks to expand into more markets across the UK, Ireland, and mainland Europe. Currently Zipp operates in three UK towns, Aylesbury and High Wycombe in Buckinghamshire, and Taunton in Somerset, with two more launches expected this month and in June.
CEO and Founder of Zipp Mobility, Charlie Gleeson said that Zipp is looking to expand to Portugal and Poland later in the summer, with it currently in advanced discussions with several local authorities in those countries.
“We’ve signed three contracts with three different authorities in Poland, all three of which we are planning to launch in July, and we are talking to several local authorities in Portugal with the aim of a July launch,” said Gleeson in an investors call.
Speaking about the crowdfunding, Gleeson said part of the reason for opting for the campaign is that Zipp wants to ensure a strong and long-lasting relationship with customers.
“One of the key differentiators for Zipp Mobility is our community-centric approach to e-scooter sharing,” said Gleeson. “Our aim is to create long term relationships within the communities we serve, and we want our customers to be part of Zipp’s journey, as well as the greater micromobility movement. We launched our crowdfunding campaign on the Spark Crowdfunding platform to offer our customers a chance to own a piece of Zipp.”