Helbiz has completed its acquisition of MiMoto Smart Mobility S.r.I.
Through this acquisition, Helbiz will expand its fleet of sharing vehicles by integrating MiMoto's electric moped service onto its platform. Users will now be able to access e-scooters, e-bicycles and e-mopeds on one seamless app. The electric moped service is currently available in four Italian cities including Milan, Turin, Genoa and Florence and will expand into other cities in the coming months.
"We are very pleased to have completed this transaction," said Salvatore Palella, founder and CEO of Helbiz. "At a time like this, when sustainable and safe mobility is increasingly important, we want to give Italian citizens more transportation options to best meet their needs. The integration of MiMoto's expertise and solution onto our platform provides us with a new impetus for growth and represents our continued commitment to building a new model of urban mobility."
"Thanks to the acquisition of MiMoto by Helbiz, we have created an urban electric mobility player that will make Italian cities, and soon cities around the world, increasingly sustainable and less congested by traffic," jointly stated MiMoto's three founders Alessandro Vincenti, Gianluca Iorio and Vittorio Muratore. "The three different micro-mobility services on a single platform guarantees an immediate and more varied offering, which will ensure cities are more livable. We are extremely proud to be part of this change."
To date, MiMoto’s fleet has seen more than one million trips for a total of more than five million kilometers (3,106,855 miles). On average, users travel 4.5 kilometers (2.7 miles) in 16 minutes, highlighting the popularity and success of these sustainable, practical and efficient vehicles among users.
As part of the transaction, Helbiz was assisted by Ortoli | Rosenstadt and Deloitte Legal for the legal aspects in the USA and Italy, respectively. MiMoto was assisted by Inexo for the M&A activities and by Dentons for the legal aspects.
