Demeter, Allianz France in €23.6m series-C for Cityscoot

The round also saw participation from existing shareholders RATP Capital Innovation and Banque des Territoires.

The funding will be supplemented by an additional €6m to finance the fleet of scooters, bringing this round to nearly €30m.

The fresh capital will be used to expand the company into two new European cities in 2020 and to increase the fleet to 8,000 electric scooters.

Previous funding
Cityscoot raised $18m in July 2016 from Caisse des Dépôts and LeasePlan.

Subsequently, Inventure Partners and RATP Capital Innovation, a corporate venture arm of RATP Group, led a $40m funding round for Cityscoot in February 2018. Caisse des Dépôts, LeasePlan and the existing private investors also participated in the round.

Company
Founded in 2013 and headquartered in Paris, Cityscoot is a self-service electric scooter operator. Cityscoot provides its services in Paris, Nice, Milan and Rome, and employs 400 people. Cityscoot has a fleet of 1,600 electric scooters with 70,000 clients and handles 7,000-9,000 rides each day.

People
Cityscoot – Bertrand Fleurose (founder, CEO).
Demeter – Philippe Detours (general partner).
Allianz France – Julien Martinez (director of strategy, innovation and M&A).
RATP Capital Innovation – Stéphanie Bourgeais (director).
Bank of Territories – Pierre Aubouin (director of the infrastructure and transport department).

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• Demeter Partners