UPDATE: Irish e-bike sharing provider Moby has just announced a public crowdfunding campaign aimed at raising €2 million to fuel its rapid expansion and innovation. Launched on October 17, 2023, through Spark Crowdfunding, the company is inviting investors to contribute to a €500,000 funding goal as it targets nearly four-fold revenue growth by 2029.
The Enterprise Ireland-backed start-up has already made significant strides since its inception in 2020, operating a fleet of 2,000 shared bikes across various locations in Ireland, including Dublin, Fingal, and Co Wicklow. To date, Moby has facilitated over 1.5 million rides with more than 100,000 registered users.
Moby’s founder and CEO, Thomas O’Connell, emphasized the company’s growth trajectory, stating, “When we first joined Spark in 2021, we were a small Dublin bike-share start-up. Today, we operate across four countries with three high-growth business units and technology that could fundamentally reshape shared mobility.”
Investors from Moby’s previous crowdfunding campaign in 2021 saw their initial investments grow to eight times their original value, underscoring the company’s potential. As Moby aims to expand its fleet to over 3,000 bikes by adding 300 new bikes per year, this latest crowdfunding effort opens the door for new stakeholders to join in its journey.
Earlier this year, Moby acquired Cargoroo, a European e-cargo bike sharing provider, and successfully relaunched 150 shared e-cargo bikes in the Netherlands. The company is reportedly in early-stage talks to introduce this service in Ireland, with plans to relaunch Cargoroo’s 600 historically profitable locations across Europe.
Moby’s diverse offerings, including e-bikes, e-cargo bikes, and e-mopeds, have attracted major clients such as Domino’s Pizza and the European Parliament. Starting next year, Moby also expects to compete for substantial cargo bike tenders backed by the EU’s €88 billion Social Climate Fund, positioning itself as a leader in zero-emission delivery solutions.
As public interest grows, Moby’s commitment to sustainability and community engagement is evident. This crowdfunding campaign is a pivotal moment, allowing investors to contribute to a company that is not only reshaping urban mobility but also making a positive environmental impact.
Next steps: Interested investors are encouraged to participate in this urgent crowdfunding round on Spark Crowdfunding, as Moby prepares for its next chapter of growth. Don’t miss out on this opportunity to be part of a transformative movement in shared mobility.
