GoTo Global, the vehicle sharing tech platform founded in Israel in 2008, recently announced its acquisition of Germany’s market-leading pioneer of electric scooter sharing, emmy.
The Israeli mobility firm, which was founded in 2008, expects that the acquisition will help drive expansion and widen its European footprint, opening the door for its accelerated entry into Germany and positioning it to exceed €100 million (US$ 116 million) in annual revenues by the end of 2023.
Established in 2015 by Alexander Meiritz and Valerian Seither, 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 more than 3,000 scooters across Germany’s largest cities, including Berlin, Hamburg and Munich, the company is a market leader in the country, with more than 350,000 customers signed up for its app, covering millions of 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, said 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 the integration of emmy’s “strong mono-vertical user base” will accelerate GoTo Global’s multimodal offering in the German market.
“We are today on course to register 100 percent 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,” Laser explained. “Today we assume to beat least 30–36 months ahead of other platforms and offerings in the market.”
GoTo Global provides shared multi-mobility solutions in Spain, Israel, Malta and now Germany through a single technology driven application. It is the world’s leading provider of multimodal mobility services, with key investors including former WeWork CEO Adam Neumann.
The company offers several modes of transport to its customers; cars, vans, mopeds, scooters and bikes.
“We have always believed in the future of urban mobility without the need to own a vehicle, and this acquisition compliments our vision perfectly, helping to reduce the number of privately-owned vehicles in cities across Germany and reducing CO2 emissions,” said emmy’s Managing Director Seither.