London-based private bus and shuttle transport solutions provider Zeelo has raised $14 million in its latest 'oversubscribed' Series A extension round led by FlatzHoffmann, IREON Ventures, and a Boston-based family office.
Targeting B2B transport networks, including office worker employers, schools and universities, Zeelo’s solution does everything from customised transportation services to providing insights to improve service, function and costs. It says it saves clients ‘on average of 12 hours per week in administrative tasks, increases bus ridership by 50% and enables 43% in cost savings per year, on average, for employee shuttle transportation’.
"Developed markets are underserved for daily mass transportation needs and we have seen increased demand for our transit-tech solution in the United States over the past 12 months," says Sam Ryan, co-founder and CEO at Zeelo.
The company's latest move is opening an office in the US, it's establishing a US-HQ in Boston and the move sees Ryan and fellow co-founder Barney Williams relocate Stateside to build up operations, while third co-founder, and CTO, Dani Ruiz remains in Europe to build up the engineering team. This co-founding team built, led and successfully exited their first transit-tech business to Addison Lee.
"Our newly set up fund seeks to support technology companies with proven business models and a lasting environmental impact," says Christopher Hoffmann, Partner at FlatzHoffmann. "We help them navigate the transition from Series A to growth and beyond. Zeelo is a unique and proven mobility player headquartered in Europe with a strong expansion push to the US. It combines a strong transit-tech platform with a clear sustainability mission. We are convinced of Zeelo's experienced leadership team and their ability to innovate and execute. They have come very far in building their business, and we look forward to supporting their growth strategy for developed markets."
Would you like to write the first comment?
Login to post comments