GoTo Global Mobility Ltd has announced its acquisition of emmy, the “market-leading pioneer” of electric scooter sharing in Germany.
The acquisition aims at significantly increasing GoTo Global’s European footprint, opening the door for its accelerated entry into Germany and positioning it to exceed €100 million in annual revenues by the end of 2023.
emmy offers shared electric moped with a supporting app that makes it easy for customers to find, reserve and quickly use mopeds across several German cities.
With a fleet of over 3,000 scooters across Berlin, Hamburg and Munich, the company is a market leader in the country, and has more than 350,000 customers signed up for its app, covering more than 22 million kilometers on its scooters.
Commenting on the purchase, GoTo Global CEO Gil Laser said: “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.”
He added that the integration of the company into GoTo would ensure a solid foundation and strong user base that will “vastly accelerate” the penetration of its offering into the German market.
As such, he indicated that the company is on course to register 100 per cent year on year growth in 2021 and predicted that GoTo is at least 30 to 36 months ahead of other platforms and offerings in the market.
Also commenting, GoTo’s Country Manager for Malta, Zach Bergerson, said: “As the first country that GoTo Global selected to expand its services abroad, GoTo Malta is thrilled to welcome emmy customers to the GoTo family.
“Next month we celebrate our third anniversary since GoTo was introduced in Malta, and we will continue to revolutionise the local transport network by offering our many subscribers a range of convenient, affordable and sustainable multimodal shared mobility option.”
The acquisition follows recent investments in the company that saw it raise $22.5 million (€19.65 million). The company is currently in an ongoing investment round to fund further expansion of its businesses’ multimodal mobility services across Europe.
Left and right: emmy Co-founders Valerian Seither & Alexander Meiritz - Centre: Gil Laser GoTo Global CEO