Zeelo, Europe's leading smart commuter mobility platform for organizations, has raised $12M to accelerate its expansion in the US, Europe and Africa, investment in its SaaS technology offering and continued rollout of fully electric bus shuttle programs
Scroll
Home » Articles » Zeelo Raises $12M for Expansion After 600% Growth
Zeelo Raises $12M for Expansion After 600% Growth
Zeelo, Europe’s leading smart commuter mobility platform for organizations, has raised $12M to accelerate its expansion in the US, Europe and Africa, investment in its SaaS technology offering and continued rollout of fully electric bus shuttle programs. Zeelo has recorded 600% revenue growth over the past 18-months, reaching regional profitability, by supporting companies in logistics and manufacturing industries, as well as post-pandemic hybrid workplaces and schools; enabling access for people in car-dependent areas to reach work and education by sustainable transportation.
The company works with employers, schools and fleet operators to deliver affordable and convenient bus programmes that provide a viable alternative to driving a car, in order to support staff recruitment and to reduce CO2 emissions from commuting. Through the use of Zeelo’s mobile apps, client workplace planning tools, route-optimisation software and asset-light vehicle model, costs are reduced by up to 42% versus using a traditional bus operator and CO2 emissions are reduced by 78%, with 30 cars being taken off the road for every trip. Zeelo offers both turnkey and SaaS solutions to multinational customers such as Ocado, Amazon and Wincanton.
“Outside urban centres, the vast majority of people need a car to access work and education. Amongst our shift-worker customers, 30% of candidates don’t turn up to the job interview in the first place because they can’t get there. Zeelo is playing an important role in improving social mobility and decarbonising transportation. In the past 18 months, employers have realised the importance of it too. Now it’s time to bring this to the masses,” said Sam Ryan, Co-Founder & CEO.
Zeelo will use the capital to accelerate US and European expansion, as well as rolling out its technology platform as a SaaS solution to fleet operator partners and encouraging the transition to zero-emission buses and coaches. The round was led by ETF Partners, with participation from InMotion Ventures and various angel investors including Neil Smith, Founder of Transit Systems.
“Zeelo’s focus on public transport deserts directly tackles the issues of car-dependency, transport emissions and social mobility. The growth of the business during the pandemic has been extraordinary and we are delighted to continue to support the business. The world needs more affordable and sustainable mass transit – Zeelo is defining the category,” added Patrick Sheehan, Managing Partner at ETF Partners.
View the latest issue of the Wealth & Finance digital magazine which features business profiles of leading industry insiders who are thriving in the finance and investment sector.
Two years on from its successful £15m award of funding from the Capability and Innovation Fund, The Co-operative Bank has delivered on its commitments to launch value added services such as a preferred Business Insurance provider and a mobile banking app for its SME customers. The Bank is also attracting a higher volume of new customers as the number of business accounts opened was 62% more in 2020 compared with 2019. To date, the bank has also doubled its target of acquiring customers through the Business Banking Switch scheme (achieved 12% against a target of 6%).
Cost-cutting is essential to a business's profitability and long-term viability. Businesses may boost profits, improve competitiveness, and guarantee long-term financial stability by managing expenses.
As an entrepreneur, there are many facets to your business idea to consider. First and foremost is coming up with a killer idea for a product or service you will sell. However, just as important is knowing the financial side of your new enterprise. While it’s easy to get caught up in the excitement of […]
Many people think of their investment portfolio as a collection of stocks, bonds, and other financial investments. But it can be much more than that. Think of shows like Shark Tank and you will have a better idea of what this can entail.
In the ever-evolving world of trading technologies, one term has risen to prominence, leaving an indelible mark on the financial landscape: tokenization.
In today’s age of technology pervasion, news headlines are rife with stories of data breaches, the actions of opportunistic cybercriminals and the financial implications of poor security hygiene. The threat landscape is constantly expanding, and the ever-increasing data load for businesses means that there are more holes and vulnerable points in a company’s cybersecurity net than ever before.
The European Central Bank (ECB) voted to leave rates unchanged today, as expected. The main borrowing rate remains at 0.05%, while the deposit rate stands at -0.2% and the marginal lending facility at 0.3%. ECB President Mario Draghi also gave details of the asset-backed securities purchase programme announced last month, saying that it could include Greek and Cypriot securities but refusing to give an estimate of its planned size.
With the iconic Wall Street building resplendent festooned in the orange and white colours of the firm, Alibaba's shares closed notably above their initial price on closing on the New York Stock Exchange (NYSE) on Friday.