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Cargoroo, known for its yellow electric shared cargo bikes, has raised ten million euros from investors.

Cargoroo, known for its yellow electric shared cargo bikes, has raised ten million euros from investors. Thanks to this new financing round, Cargoroo strengthens its leading position in the field of e-share cargo bikes in Europe. In this way, even more car journeys can be replaced by a journey with the e-cargo bike, making cities more liveable, healthier and safer.

Expansion in Europe

The capital raised makes further growth possible for the specialist in electric shared cargo bikes. For example, the expansion of the sharing concept in Europe can be accelerated thanks to the investment. Next year, Cargoroo will be introduced in more German cities. In addition, the concept will be launched in France in the city of Lyon. Cargoroo's presence is growing in European cities where the sharing concept is already known, such as Antwerp and Berlin. The number of cargo bikes is being increased considerably there.

In the Netherlands, where the sharing concept was recently launched in Eindhoven, the electric shared cargo bike will be available in more neighborhoods and cities. In addition, the number of shared cargo bikes is growing in Amsterdam, Utrecht, The Hague, Nijmegen and Arnhem. Move on cargo roo Attracting new talent to convince even more customers of the benefits of the e-share cargo bike.

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From left to right: Cargoroo founders Jelle Maijer, Jaron Borensztajn and Erik de Winter.

“With this investment, we and the Team can take our mission to the next level: making cities more liveable, healthier and safer. In addition to capital, the investors offer experience and knowledge in the areas of the sharing economy, the public sector and mobility. In that respect, our vision and values ​​are aligned.”

Investors with a common goal

The Sharing Group and Participatiefonds Duurzaam Economie Noord-Holland (PDENH) join the existing investor Fairtree Elevant Ventures. Together they invest ten million euros with leasing companies.

The Sharing Group is a fast growing family of tech companies for 'Good Sharing' concepts. Joost van Rooij, CMO The Sharing Group: “MyWheels is the best-known brand in our portfolio in the field of shared mobility. The investment in Cargoroo fits in seamlessly with this; both concepts contribute to fewer cars on the street and more quality of life”.

As a public fund, PDENH invests in North Holland companies and initiatives that contribute to the energy transition, circular economy and sustainable mobility in the region. Joost de Waard, Investment Manager PDENH: “The shared cargo bike is a serious alternative to car use in the densely populated European inner cities and we believe that cargo roo as market leader is able to roll out this concept on a large scale. And apart from less CO2, the yellow cargo bikes also contribute to a healthier lifestyle for the user!”

Photo above: Hadrian/Shutterstock.com.

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