Demeter announces an investment in the company Cityscoot, European leader in the rental of free-floating electric scooters and a member of the Next 40 (list of the 40 French high potential startups), by the Fonds de Modernisation des Transports (FMET)
Cityscoot, created in 2014 by Bertrand Fleurose, has already deployed more than 7,200 scooters in Paris, Nice, Milan and Rome.
The Fonds de Modernisation Ecologique des Transports (FMET), managed by Demeter, is one of the main subscribers of the company’s third capital increase, representing a total of € 23.6M. This investment was made alongside Allianz France and the historic shareholders of Cityscoot, in particular RATP group and Banque des Territoires.
The purpose of this fundraising is to increase the presence of Cityscoot in the current cities and to finance the opening of new capital cities.
For further information, please refer to the attached press release Cityscoot.