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Helbiz Italia Secures €3.5 million Loan from Banca Progetto to Renew and Strengthen its Fleet of Vehicles Across Italy

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Helbiz Italia Secures €3.5 million Mortgage from Banca Progetto to Renew and Strengthen its Fleet of Autos Throughout Italy

MILAN–()–Helbiz, the market chief of city micro-mobility with 29 licenses all over the world, introduced immediately that it secured a €3.5 million mortgage from Banca Progetto to assist assist the corporate’s continued enlargement efforts and growth initiatives throughout Italy. The most recent spherical of financing will enable Helbiz to additional strengthen its monetary construction to drive the execution of its 2020-2022 enlargement plan in Italy.

By way of this new €3.5 million mortgage supplied by Banca Progetto and counter-guaranteed by Mediocredito Centrale, Helbiz has additionally secured entry to financial institution leverage for the primary time. This 6-year mortgage will probably be directed in direction of future investments in e-scooters and e-bikes.

Beforehand, like different micro-mobility firms, Helbiz funded fleet enlargement via shareholder fairness and fairness rounds as a result of this revolutionary phase of the market was not but thought-about bankable. To assist earlier enlargement efforts, Helbiz raised roughly $31 million amongst institutional {and professional} traders in successive fairness rounds to buy micro-mobility units.

In 2020, Helbiz grew its presence within the Italian market by 5X and achieved profitability on the operational degree, acquiring entry to credit score for the primary time.

Right now, the micro-mobility trade is regulated and licenses are awarded to operators for a interval starting from 12 months to five years. Money technology makes the enterprise mannequin sustainable, enabling firms to plan investments for growth within the space.

“With this mortgage, Banca Progetto reaffirms its assist for revolutionary, inexperienced entrepreneurial initiatives with a global perspective,” mentioned Paolo Fiorentino, CEO of Banca Progetto. “We’ve the utmost confidence within the younger administration group at Helbiz who brings their power, creativity, dedication and imaginative and prescient, whereas main by instance with initiatives that concentrate on environmental sustainability and profitability.”

“The potential for entry to financial institution financing that helps structural and practical investments for development is pushed by a superb ROI within the capital,” mentioned Giulio Profumo, CFO of Helbiz. “Beginning immediately, our enterprise mannequin is assessed as consolidated and worthwhile. Helbiz Italia reached break-even final September, and each the corporate’s financial metrics and volumes are enhancing incrementally.”

Profumo continued, “Our automobile and operations financing mannequin supplies for 2 distinct funding channels – debt and fairness, respectively. This allows us to raised plan for each the acquisition of recent automobile fleets and the time profile of their depreciation. On this topic, we’re additionally finding out a type of asset-backed debt construction related to scooters and electrical bicycles to finance future investments.”

Profumo additional commented, “The consolidation of the Helbiz enterprise mannequin is witnessed by a rationalization of the requires tenders for licenses. Particularly, many cities all over the world are issuing tenders for 2 or three licenses and typically solely a single operator. On the identical time, the development of cities persevering with to allow micro-mobility providers is rising. This has enabled Helbiz to extend its ranges of effectivity and market penetration, positioning us as one of many reference operators in Europe and america. We additionally skilled elevated adoption throughout numerous markets as a result of Coronavirus pandemic that has compelled cities to open up micro-mobility providers extra rapidly as a way to provide an built-in various to different technique of public transport.”

Helbiz

Helbiz is a know-how firm that provides micro city mobility options with the aim of containing the speed of visitors enhance. With over 200 staff, the corporate is a market chief in Italy and throughout Europe and continues to broaden and rent native workers to handle its worldwide operations. Launched in 2015 and headquartered in New York Metropolis, the corporate operates scooters, e-bikes and electrical mopeds in additional than 20 cities all over the world, together with Washington DC, Alexandria, Arlington, Atlanta, Miami, Richmond, Milan and Rome. Helbiz Inc introduced on February 9, 2021 a merger with SPAC GreenVision Acquisition Corp. (Nasdaq: GRNV) (“GreenVision”), leading to it changing into the primary micro-mobility firm listed on Nasdaq.

Financial institution Mission

Banca Progetto S.p.A., born in 2015 from the reorganization of Banca Popolare Lecchese following its buy by the Californian fund Oaktree, operates within the family and enterprise credit score market additionally via the digital channel. With places of work in Milan and Rome and a business community current all through the nation, Banca Progetto makes a speciality of providers for small and medium-sized Italian firms and personal prospects, particularly in Cessione del Quinto merchandise for personal staff, state staff, public staff, para-public staff and pensioners and in medium to long-term loans to SMEs.

For extra info: www.helbiz.com/investors

Info contained inside the above web site is just not included on this press launch.

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