Egypt’s Rabbit Mobility Secures $1.3 Million Funding

• Rabbit Mobility raised $1.3 million in a recent investment round, led by 500 Global and Untapped Global, with participation from angel investors.
• Founded in 2020, Rabbit Mobility focuses on providing sustainable urban transportation through electric scooters and bikes, addressing traffic congestion and pollution.
• The platform has attracted over 450,000 users and facilitated more than 1 million rides, rapidly expanding its fleet and operations across Egypt.
• With plans for further expansion into North Africa, Rabbit Mobility aims to achieve profitability by year-end, positioning itself as a regional leader in micromobility.

Egypt-based micromobility platform, Rabbit Mobility, recently closed a successful investment round, raising $1.3 million. This round was led by venture capital giant 500 Global and Untapped Global, a firm specializing in smart asset financing.

A group of angel investors, who bring global and local expertise in sustainable mobility, also participated in the round. The funding will enable Rabbit Mobility to further expand its operations and enhance its offerings across Egypt and into new North African markets.

Founders and Vision of Rabbit Mobility

Founded in 2020 by Kamal ElSoueni, Mohamed Mansoury, and Bassem Magued, Rabbit Mobility provides clean, sustainable mobility solutions. Their vision is to reduce traffic congestion and pollution by offering a fleet of electric scooters and bikes as an affordable and convenient urban transportation option. The company has become Egypt’s leading micromobility platform, focusing on sustainability while addressing the growing demand for modern, efficient mobility solutions in urban areas.

Rabbit Mobility’s approach has resonated well with users who seek reliable, cost-effective alternatives to traditional forms of transportation. Their services cater to those looking for flexible travel options while reducing their carbon footprint, reflecting global trends toward greener transportation.

Rapid Growth and Market Expansion

Since its inception, Rabbit Mobility has seen tremendous growth. The platform has attracted over 450,000 users, who have completed more than 1 million rides. This rapid adoption reflects the increasing demand for sustainable transportation in Egypt’s congested cities. To keep up with this demand, the company has aggressively expanded its fleet of scooters and bikes. In just the past few weeks, the company tripled the availability of its fleet, further fueling its growth.

This strong momentum positions Rabbit Mobility for further expansion, with plans to enter additional cities in Egypt and eventually other North African countries. By the end of the year, Rabbit Mobility expects to achieve profitability, which will solidify its position as a major player in the regional micromobility market. This financial stability will allow the company to continue investing in its fleet, improve user experience, and scale operations efficiently.

Strategic Investment and Support

The investment round, led by 500 Global and Untapped Global, underscores Rabbit Mobility’s potential to transform urban transportation in Africa. 500 Global, a renowned venture capital firm with a global portfolio, brings not only financial support but also valuable strategic insight into scaling tech-enabled platforms in emerging markets. Untapped Global, known for its focus on sustainable infrastructure investments, is committed to helping Rabbit Mobility scale rapidly while maintaining its sustainability goals.

“We are thrilled to have 500 Global, Untapped Global, and our angel investors onboard,” said Kamal ElSoueni, Rabbit Mobility’s co-founder and CEO. “Their investment will allow us to accelerate our expansion plans, grow our fleet, and make micromobility more accessible and convenient for people across Egypt.”

The inclusion of angel investors with expertise in sustainable mobility also strengthens Rabbit Mobility’s leadership in the sector. Their experience will help the company navigate the challenges of rapid growth while staying true to its mission of promoting eco-friendly transportation solutions.

Scaling for the Future

Rabbit Mobility’s growth reflects a larger trend of rising interest in micromobility solutions across the globe. As urban areas become more congested and traditional transportation methods struggle to meet demand, micromobility platforms like Rabbit Mobility are filling an important gap. Their electric scooters and bikes offer an efficient way for people to navigate crowded city streets without contributing to traffic or pollution.

The company is well-positioned to continue scaling its operations. With the newly secured funding, Rabbit Mobility plans to further expand its fleet and improve the overall user experience. Enhancements to the platform’s technology will also play a key role in ensuring seamless, reliable services as demand continues to grow.

Commitment to Sustainable Mobility

Rabbit Mobility’s mission extends beyond convenience and affordability; it is rooted in a commitment to sustainability. By offering electric scooters and bikes, the company actively contributes to reducing the environmental impact of transportation. This aligns with global efforts to combat climate change and reduce carbon emissions, a particularly pressing issue in rapidly growing urban centers like Cairo.

The company’s leadership in the micromobility space has made it a critical player in Egypt’s push toward greener urban living. As more people seek alternatives to car ownership and traditional public transport, Rabbit Mobility is poised to lead the way in providing efficient, eco-friendly transportation solutions.

Investor Confidence in Rabbit Mobility

Investors are optimistic about Rabbit Mobility’s potential to continue scaling rapidly and sustainably. Amal Dokhan, Managing Partner at 500 Global, expressed confidence in the company’s innovative approach to micromobility. “We believe in Rabbit Mobility’s vision and are excited to support their growth as they revolutionize urban transportation in Egypt and beyond.”

David Kleiterp, Co-Head of Investments at Untapped Global, echoed this sentiment. “We are impressed by the innovation behind Rabbit’s tech-enabled platform. With our support, we are confident that they will continue to scale and meet the growing demand for micromobility in North Africa.”

Future Prospects

This latest investment round marks a major milestone in Rabbit Mobility’s journey. With a strong financial foundation and strategic partners, the company is poised for long-term success. As the demand for sustainable, efficient transportation options grows, Rabbit Mobility is well-positioned to lead the way in transforming urban mobility in Egypt and beyond.

By focusing on rapid expansion, enhancing user experience, and maintaining a commitment to sustainability, Rabbit Mobility is set to become a dominant player in the region’s micromobility market. The company’s growth trajectory shows no signs of slowing down, and with this new investment, it is ready to tackle the challenges and opportunities that lie ahead.

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