Cityscoot, a Paris, France-based electric scooter-sharing service, raised €40m in funding.
The round was led by RATP Capital Innovation and Inventure Partners with participation from existing investors Caisse des Dépôts and LeasePlan.
The company intends to use the funds to expand its service to other cities in France (in Nice), in Switzerland and Italy, and increase its fleet to 5,000 scooters within 2018.
Led by Bertrand Fleurose, President and Founder, Cityscoot operates an electric scooter-sharing service in Paris and nearby areas (Boulogne-Billancourt, Issy-les-Moulineaux, Levallois-Perret and Neuilly-sur-Seine). With a fleet of 1,600 scooters, the company has 70k users and handles 7k to 9k rides every day, with an ride average duration of 15 minutes and 4 km.