Zooming into the future

Mina Nada, Zoomo CEO and co-founder

Ever since Michael Johnson and I created Bolt, in 2017, I dreamed our business would improve the lives of couriers and help the global delivery economy grow sustainably.

We didn't know what to expect and had no idea how the world would change over time. But we took comfort in the belief that even if things didn't work out as planned, we could be proud of investing in a category of workers that had been wholly ignored by the market.  

Today, just a few days after rebranding to Zoomo, we're announcing a significant step towards realising our dream: we have just received a Series A investment of $11 million (AUD$ 16 million). The lead investor is the Clean Energy Finance Corporation, whose role is to invest in Australia's transition to lower emissions. Hana Ventures and existing investors Maniv Mobility and Contrarian Ventures also took part in the equity investment. 

Zoomo Zero E-bike
Zoomo Zero E-bike


We're also thrilled that part of the capital is coming from OneVentures and Viola Credit, in the form of venture debt. It's gratifying that the market believes that Zoomo is moving in the right direction and is keen to back our next steps and it is a vote of confidence in the brilliant work done by our team of nearly 100 people across Australia, the US and the UK. 

With this cash injection, Zoomo will invest in its people and its geographical expansion. Zoomo's point of difference is its unique offer of custom-designed smart e-bikes with flexible pricing plans and all-in service. We'll be taking this model to Brisbane, Australia and Los Angeles, in the United States, very soon. We'll also expand our network in Melbourne and New York, hire new people, invest in new bikes and dive into different delivery categories, such as parcel and mail. 

One surprising upside of building a company to service couriers was that by targeting the most demanding customer out there, we would prepare ourselves to also help companies and commuters in solving their mobility challenges. Rising demand from these segments for solutions that combine great products, price and service has inspired us to expand our offers to corporates and consumers as well.

I couldn't be happier with what we have achieved to date, and I can't wait for what is coming.

 


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