We are pleased to announce that Generali, one of the major global players in the insurance and asset management sector and among the top 100 most sustainable companies globally, has invested in the capital of Ridemovi, the leading company in Italy and Spain in the micro-mobility sector providing sharing services for bicycles, e-bikes and e-scooters.
The investment was completed through a specialized investment fund, managed by Ocorian Fund Management and held by Generali Group companies. Generali Insurance Asset Management originated and executed the transaction as investment advisor to the fund.
Ridemovi operates in 17 cities in Italy and Spain with about 30,000 vehicles, 2 million users and 1 billion km travelled in just 3 years of activity. The company offers a solution for urban mobility with low emissions of greenhouse gases and air pollutants.
The investment by Generali will enable Ridemovi to extend its fleet to around 70,000 vehicles, further strengthening its leadership in Italy and Spain and opening up new markets in Europe and outside the European region. The growth of the fleet will be mainly focused on electric vehicles.
“We are very pleased to have been chosen by an investor like Generali – says Alessandro Felici CEO of Ridemovi – The demand for micro-mobility is growing at a very high rate. Thanks to Generali’s investment we will be able to accelerate the international expansion of Ridemovi. We will also invest in research, to continue innovating vehicles and services, making them more functional and efficient”.
Generali Investments’ portfolio manager Stefano Ferrari, who will represent Generali on Ridemovi’s board of directors, comments: “Generali Group, in line with its objective to contribute to the building of a healthy, resilient and sustainable society, confirms its commitment to green mobility by investing in Ridemovi, a high-tech company that deals with shared mobility, paying particular attention to digital technology and sustainability, some of the most important factors shaping the future of our planet and businesses. Ridemovi is the leading Italian company in the micro-mobility sector and has developed a very efficient and scalable business model. We are confident that it can become a successful example for all innovative and sustainable Italian companies”.
Ridemovi was assisted by GCA Altium as exclusive financial advisor, by Nctm for legal aspects, by BDO and Caravati Pagani for accounting and tax aspects and by the capital markets advisor Bestinver.
Generali was assisted by Linklaters for the legal aspects.
 Corporate Knights’ ranking “2020 Global 100 Most Sustainable Corporations”