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By Reuters Staff
2 Min Read
MILAN, May 10 (Reuters) - Italy’s biggest insurer Generali has bought a stake in Ridemovi, which offers bicycle and electric scooter sharing services, to help it expand in Italy, Spain and beyond.
Ridemovi, which operates micro-mobility services in 17 Italian and Spanish cities, said on Monday that Generali had bought the undisclosed sized stake through a specialized fund.
The COVID-19 pandemic has helped turn two-wheeled transport into an essential part of urban mobility, giving firms and start-ups offering shared services a new lease of life.
Ridemovi already operates some 30,000 bicycles, e-bikes and e-scooters and said in a statement on Monday that the Generali investment through Ocorian Fund Management would help it grow to 70,000, mainly electric vehicles.