Zipp Mobility Closes €6.1 million Funding Round Led by Fasanara Capital
Zipp Mobility, Ireland’s leading micromobility operator, today announced that it has closed a €6.1 million funding round led by Fasanara Capital, a UK-based asset manager, and follow-on investment from a number of existing investors.
The funding, a mixture of equity and debt, will be used by the company to expand its e-scooter and e-bike operations in Ireland, UK and in mainland Europe in the coming months and to expand the Zipp growth and operations team.
Zipp Mobility, established by Charlie Gleeson in 2019 and headquartered at NovaUCD in Dublin, is already a significant player in the European micromobility sharing market, having launched e-scooter and e-bike operations in nine (9) cities in the UK, Ireland and Poland.
Charlie Gleeson, CEO and founder, Zipp Mobility, said, “We are delighted to have secured this significant investment and backing from the Fasanara Capital team and existing investors. Its great to have so many investors who believe in our long-term vision of “mobility done right”. This funding will help us bring this approach to more cities and provide more people in Ireland, the UK and mainland Europe with sustainable, safe and community-centric micromobility solutions.”
Francesco Filia, CEO, Fasanara Capital, said “We were attracted to investing in Zipp by their differentiated market position and unique value proposition to local government partners. Zipp are an evolved player in the mobility space with a proven track record, sophisticated tech infrastructure and a quality-driven approach and we believe these factors will continue to drive the company’s success in this fast-growing market.”
Previous to this latest funding round Zipp Mobility, an Enterprise Ireland high potential start-up, had secured a total of €2.1 million from a number private and angel investors including, former Irish rugby international Brian O’Driscoll and Barry Maloney of Balderton Capital, Enterprise Ireland, and through a crowdfunding campaign on the Spark Crowdfunding platform.
Davy Corporate Finance acted as financial adviser to Zipp Mobility on the transaction.
ENDS
23 June 2022
For further information contact Micéal Whelan, Communications and Media Relations Manager, NovaUCD, e: miceal.whelan@ucd.ie.
Editor’s Notes
Zipp Mobility is Ireland’s leading micromobility provider bringing a more sustainable micromobility sharing model to cities in the UK, Ireland and further afield. www.zippmobility.com
Launched in 2011, Fasanara Capital is a UK based hedge fund and has more than $3.5bn (£2.8bn) in assets under management. It is one of the largest Fintech focused capital providers globally with multiple USD 100 Million+ investments in Fintechs. It looks to invest in new technology that is sustainable, scalable and backed by data. It provides financing to firms including cryptocurrency exchanges and digital lending businesses. The company has previously raised about $550 million across two venture funds to back tech companies. https://www.fasanara.com/
At NovaUCD, the hub for new ventures and entrepreneurs at University College Dublin, we nurture and support new high-tech companies, such as Zipp Mobility, as part of UCD's mission. At NovaUCD we provide purpose-built, state-of-the-art incubation facilities alongside a comprehensive business support programme for client companies. NovaUCD has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, UCD and Xilinx. www.novaucd.ie