European micromobility startup Reby acquired by PE player House of Lithium for $100 million – TechCrunch

Founded in 2018, European micromobility startup Reby taken an interesting path. It deployed e-scooters in the city of Zaragoza (Spain), during the COVID-19 pandemic, but also created a SaaS-oriented “MaaS” (mobility-as-a-service) platform. It went on to win 18 government deals for e-mobility across Italy and Spain, slightly under the radar compared to well-funded big players like Tier, Voi and Bolt. In other words, without needing to become a big player, it has secured the types of European municipal licenses coveted by micromobility players.

Founded by four entrepreneurs (Pep Gómez, Kiran Thomas, Cristina Castillo and Guillem Pagès), Reby has now been acquired by lithium house, a Canadian private equity firm, which was already a major shareholder in the company. The company invests in private and publicly listed entities involved in or connected to the electric mobility value chain. The transaction is valued at $100 million. Company founder Pep Gómez, along with the rest of the management team, will continue to lead Reby. The company says it closed the year with approximately $15 million in revenue and an EBITDA of approximately US$3 million.

Reby had raised a total of $17.9 million from EXOR, 14W Ventures, Neo Fund, Fuel Capital, Hard Yaka, Day One Ventures and some angels such as Simon Rothman (founder of eBay Motors and board member of administration of Tesla and Lyft), Marcelo Gigliani (APAX Digital) and Hugo Arevalo (Jobandtalent).

In a statement, Kevin Taylor, President of House of Lithium, said, “Combining Reby’s industry-leading IoT technology and proven ride-hailing business model with manufacturing, distribution, e-commerce and retail assets at detail from House of Lithium will help create an end-to-end solution. an end-to-end mobility platform to maximize opportunities and bottom-line results. »

Reby has made a point of making his own vehicles, avoiding Chinese-made scooters; operating exclusively with town hall agreements; and financing vehicle investments largely with asset-backed debt.

Gomez added: “The House of Lithium team’s financial strength and capital markets expertise make this a great partnership with the added power Reby needs to continue its growth…Electric vehicle business times burning money with artificial growth is gone, giving us a huge opportunity to win in an untapped market focused on infrastructure regulation and the development of R&D in security and the occupation of public space, which is imperative for cities.

Reby is the second venture of Gomez, who at 19 was the sole founder of the Fever experiences app, which has raised $298.8 million to date and has been backed by Goldman Sachs, Accel Partners and Rakuten, among others. .

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