The growth of companies based on collaborative economy is being exponential worldwide, Spain is not lagging behind, the mode rental sector is one of the fashionable disciplines that seems to be here to stay, a niche market in which investment is being made thanks to its capacity for growth.
The growth of companies based on collaborative economy is being exponential worldwide, Spain is not lagging behind, the mode rental sector is one of the fashionable disciplines that seems to be here to stay, a niche market in which investment is being made thanks to its capacity for growth.
Molo is a Spanish technology company operating in the electric scooter rental sector. The company has been the pioneer in launching Europe's first subscription-based electric scooter sharing service.
The firm has started its activity in Valencia, where it will compete with Muving, which operates in a similar way. However, there is a notable difference between the two companies: while Muving charges for minutes used, Molo focuses on a subscription-based model. Subscriptions currently cost €9.9/month.
In addition, the features offered by Molo are totally different from those of its competitors, as they offer electric motorbikes with a larger displacement than those offered until now (125 cc), a greater autonomy to be able to travel up to 100 km and permanent support thanks to an app designed ad hoc.
Another of Molo's major decisions has been to limit the maximum number of subscriptions per bike, thus avoiding an overpopulation in the number of users that could lead to user dissatisfaction.
The Molo company began its journey on 17 September with 150 motorbikes, already has more than 200 and expects to end the year with a number close to 500. Its objective is to continue growing and reach 6,500 motorbikes during 2019, reaching 33 M€ in revenue and reaching 10,000 throughout the territory in 2020, with a turnover of around 66 M€.
Due to the expected high growth, both in Valencia and in its future expansion throughout the rest of the national territory, it has secured a seed funding investment of €1M and an additional capital contribution of €2.5M, closing the investment round for a total of €3.5M, most of which will be used to expand the fleet of electric bicycles. These first investments are part of the initial €25M investment plan.
The great challenge for the scooter rental sector will be to compete with other companies dedicated to the shared use of other means of transport such as electric bikes, electric scooters, etc. and possible changes in regulation, however, it seems that the growth of the industry will continue to grow exponentially in the medium term.
Comparing the investments made in the motorbike rental sector, we can see that there is still a lot of growth in the Spanish market, which could lead to the growth of very attractive investment opportunities in the medium to short term, both nationally and in Europe and South America.
| Company | Country | Description | Total amount of investment | Date of the last round |
|---|---|---|---|---|
| NanoLumens | United States | NanoLumens is dedicated to research, product development, marketing and sales of LED display solutions. | $34,4M | 17/01/2017 |
| rVue | United States | rVue is an advertising technology platform that simplifies the planning and execution of place-based digital media. | $6,5M | 28/04/2017 |
| CityMeo | France | CityMeo offers an easy way to communicate on screens, allowing you to create, manage and broadcast content on your screens. | €2,6M | 17/01/2018 |
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