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It's been almost two and a half years since Emmy turned its last round of funding.

The E-Moped-Sharing, founded in 2015, is now following suit with a low, double-digit million investment in the Series C.

The group is led by the Munich investment company Bonventure.

IBB Beteiligungsgesellschaft and other German and international family offices have also increased their number of existing investors.

The capital is composed of equity and debt financing.

The loans are to be used to purchase 1,500 new scooters, according to a statement.

The start-up currently has around 3000 vehicles on the road in Munich, Hamburg and Berlin.

Due to the current low interest rates, it is worthwhile for Emmy to purchase more vehicles with the help of bank loans, as founder Valerian Seither told “Gründerszene”.

The ratio of equity and debt is about the same.

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So far, Emmy has had Govecs and Niu scooters in its range.

Since then, a new manufacturer will be added in the spring.

Emmy works in a similar way to car sharing, except that the start-up relies exclusively on electric mopeds.

According to its own information, the Berlin company has 300,000 customers.

Last year there were around 250,000.

Corona resulted in losses for the mobility industry

Like the entire mobility industry, the Berlin sharing start-up suffered from the corona restrictions.

At the beginning of the pandemic, there was a loss of use of 80 percent, says the co-founder.

Even over the summer, when the rules were relaxed, there were 30 to 50 percent fewer users than in the previous year.

On top of that, the economic crisis is depressing the expansion of the Berlin start-up.

Emmy had planned to open a store in Vienna, but had to cancel the pilot project in Austria.

To stay on course, the scooter sharing service has also let contracts for white label solutions expire.

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In cooperation with the Düsseldorf public utility company, for example, Emmy took care of 500 vehicles.

A similar collaboration is still ongoing in Stuttgart.

Looking ahead to 2021, the company is nevertheless confident that it will be able to operate profitably.

"The corona pandemic presented Emmy with great challenges," says Jochen Herdrich, partner at the newly entered investor Bonventure.

“We still believe in the business model and the social impact.

That is why we decided, together with the other old investors, to undertake this large financing round. "

Emmy competitor Coup has gone out of business

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The competitor Coup ceased business at the end of 2019.

The reason at that time was that an operation on the "highly competitive sharing market with high costs at the same time was not economically feasible in the long term".

In March 2020, the Tier Mobility sharing platform, known for its e-scooters, took over the 5000 coup scooters and put them back on the road.

In addition to the minute-based billing models offered by Emmy and Tier, start-ups such as Swapfiets and Pure + are trying to establish themselves on the market with moped subscriptions.

Such a model is also interesting for Emmy, says Seither.

First, however, it is a matter of concentrating on the core business for the start of the 2021 season.

This text comes from a cooperation with the magazine "Gründerszene".

Click on the links, leave welt.de and land in the articles at gruenderszene.de.

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