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.