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    DHER   DE000A2E4K43

DELIVERY HERO SE

(DHER)
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Delivery Hero : E-scooter sharing firm VOI raises $160 million to expand

12/01/2020 | 06:03pm EDT
Dock-free electric scooters parked for rent in Paris

STOCKHOLM (Reuters) - Sweden's VOI Technology has raised $160 million in a funding round led by The Raine Group's growth equity vehicle to help it fuel expansion, it said on Wednesday.

The company was initially hit by lockdowns as the COVID-19 pandemic broke out, but has over the past months seen demand picking up as people avoid trains and buses to be able to socially distance.

VNV Global, Balderton, Creandum and top chiefs and entrepreneurs at Delivery Hero, Klarna, iZettle, Kry and Amazon participated in the fresh round, VOI said in a statement.

"In connection to the funding, VOI has secured the industry's first asset-backed debt facility at scale, which will be directed towards scooters and e-bikes in 2021," it said, adding it will invest in technology and growth in its markets.

VOI, whose competitors include Tier, Lime and Bird, is on track to reach an annual profit in 2021 and a lower loss this year than the 770 million crowns ($90.8 million) reported in 2019, Chief Financial Officer Mathias Hermansson said.

He added that the new funding would help VOI, which operates in over 50 cities in 11 countries, to survive a widely anticipated shake-out among e-scooter firms over the coming few years.

"This whole pandemic has moved forward the sector's development several years in only a half year," Hermansson told Reuters in an interview.

He said the number of rides on VOI e-scooters had increased by 85% in the September-November period versus a year ago, despite a lower overall mobility in European cities.

Hermansson, who said VOI was currently looking at expansion mainly in Europe, declined to comment on the valuation of the company. He said there were no concrete plans for a stock market listing.

The new funding takes the Swedish company's total funding to $325 million since 2018 - the year it was founded - and to $190 million over the last four months.

(Reporting by Helena Soderpalm; Editing by Simon Johnson)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DELIVERY HERO SE 1.41% 118.8 Delayed Quote.-6.46%
VNV GLOBAL AB (PUBL) 1.48% 123.5 Delayed Quote.4.02%
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Financials
Sales 2021 5 918 M 6 880 M 6 880 M
Net income 2021 -1 425 M -1 657 M -1 657 M
Net Debt 2021 1 505 M 1 750 M 1 750 M
P/E ratio 2021 -20,9x
Yield 2021 -
Capitalization 29 645 M 34 520 M 34 463 M
EV / Sales 2021 5,26x
EV / Sales 2022 3,52x
Nbr of Employees 43 838
Free-Float 67,7%
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Mean consensus BUY
Number of Analysts 22
Last Close Price 118,80 €
Average target price 162,30 €
Spread / Average Target 36,6%
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Managers and Directors
L. Niklas Östberg Chief Executive Officer
Emmanuel Thomassin Chief Financial Officer
Martin Karl Enderle Chairman-Supervisory Board
Christian Graf von Hardenberg Chief Technology Officer
Pieter-Jan Vandepitte COO & Member-Management Board
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