Last Updated on Friday, 8 October, 2021 at 9:15 am by Andre Camilleri
Acquisition to revolutionise the way German commuters travel, providing a single, technology driven app to access multimodal transportation
GoTo Global Mobility Ltd has announced the acquisition of emmy, the market-leading pioneer of electric scooter sharing in Germany. The strategic acquisition significantly increases GoTo Global’s European footprint, opening the door for its accelerated entry into Germany and positioning it to exceed €100m in annual revenues by the end of 2023.
emmy offers shared electric mopeds with an app that easily enables its customers to find, reserve and quickly use mopeds across a city. With a fleet of over 3,000 scooters across Berlin, Hamburg and Munich, the company is a market leader in Germany, with more than 350,000 customers signed up for its app, covering more than 22 million kilometres on its scooters.
“This acquisition provides us with a large, immediate footprint in Germany and brings us one step closer to our mission of bringing multimodal shared mobility to every major European city by 2025, comments Gil Laser, CEO of GoTo Global. “Today, very few city journeys rely on just one form of vehicle and we believe that multimodal transport is the future for modern urban travel. We are excited to bring our unique technology platform to the German market, enabling commuters to easily move in whichever way best suits their needs.”
Laser added that “integrating emmy into GoTo ensures a solid foundation and strong user base that will vastly accelerate the penetration of our multimodal offering into the German market. We are today on course to register 100% year on year growth in 2021 and we know that GoTo’s multimodal mobility experience means we can hit right at the heart of the urban mobility problem. Today we assume to be at least 30-36 months ahead of other platforms and offerings on the market”.
GoTo Global provides shared multi-mobility solutions in Israel, Malta, Madrid and now Germany through a single technology driven application. It is the world’s leading provider of multimodal mobility services, with key investors including Adam Neumann (Wework). The company provides commuters with access to a range of transport options including cars, vans, mopeds, scooters and bikes and has experienced exceptional growth in recent months. With the acquisition of emmy and plans for further growth across Europe, the organisation is now positioned to power millions of trips across the continent with its fleet of thousands of diverse assets.
“emmy customers will quickly see the benefits of this acquisition once we roll out GoTo’s unique technology. This will allow them to easily complement their moped rides with cars and micro-mobility options,” said Valerian Seither, managing director of emmy. “We have always believed in the future of urban mobility without the need to own a vehicle and this acquisition complements our vision perfectly, helping to reduce the number of privately-owned vehicles in cities across Germany and reducing CO2 emissions. From a business perspective, we expect this move to see GoTo Germany triple its annual revenues via the roll out of multimodality driven application.”
“As the first country that GoTo Global selected to expand its services abroad, GoTo Malta is thrilled to welcome emmy customers to the GoTo family,” remarks Zach Bergerson, Country manager Malta at GoTo Global. “Next month we celebrate our third anniversary since GoTo was introduced in Malta and we will continue to revolutionise the local transport network by offering our many subscribers a range of convenient, affordable and sustainable multimodal shared mobility options.”
The acquisition follows recent investments in the company that saw it raise $22.5m. The company is currently in an ongoing investment round to fund further expansion of its businesses’ multimodal mobility services across Europe.