Dutch e-bike and electric scooter provider GreenMo green no ‘mo

GreenMo, a subsidiary of Utrect-based Go Sharing has been declared bankrupt. Prior to the collapse, the company specialised in leasing some 30,000 e-bikes and electric scooters to home-delivery outlets (think Thuisbezordgd and Dominos Pizza, for example) and Police units across the Netherlands, Belgium, Germany, Austria, and England. 

While the precise reasoning behind the collapse of the company remains uncertain, in an interview with Dutch Financial Newspaper Financial Dagblad, a GreenMo representative noted that the company had recently received an investment (the organisation's sister company Go Sharing announced a €50 million raise on April 22, 2021), that trading activities will continue for the time being, and that there is an interest among parties for a “restart”. 

According to a statement released by company trustees, “'GreenMo raised a considerable amount relatively recently, but due to the (downward) market movements that have not proved to be enough.”

LinkedIn lists 80 employees at GreenMo.

The move follows a dramatic scaling back from the head, as Go Sharing, the consumer-facing branch of the organisation announced in December of last year that they would withdraw from 33 of its (formerly) active 45 cities across the Netherlands. The company noted a challenging economic climate and market uncertainty, that held investors back from investing in car-sharing companies.

While the company is scaling back, according to GreenMo, the bankruptcy does not effect it’s sister organisation, however, given the situation, the scaling back, and investors reluctance to pump any more capital into the company, the writing on the wall doesn’t look good for the now decade-old Go Sharing.