Bus commuting platform Zeelo has raised $12m to accelerate its expansion in the US, Europe and Africa, investment in its SaaS technology and continued rollout of fully electric bus shuttle programmes.
It comes as Zeelo records a 600% revenue growth over the past 18 months, reaching regional profitability, by working with employers, schools and operators to deliver bus programmes that provide a viable alternative to driving a car.
Sam Ryan, Zeelo Co-Founder and CEO, says: “Outside urban centres, the majority of people need a car to access work and education. Among our shift-worker customers, 30% of candidates don’t turn up to the job interview in the first place because they can’t get there.
“Zeelo is playing an important role in improving social mobility and decarbonising transport. In the past 18 months, employers have realised the importance of it too. Now it’s time to bring this to the masses.”
Zeelo will use the capital to accelerate US and European expansion, as well as rolling out its technology platform as a SaaS solution to operator partners and encouraging the transition to zero-emission coaches and buses. The round was led by ETF Partners, with participation from InMotion Ventures and various angel investors including Neil Smith, Founder of Transit Systems.
“Zeelo’s focus on public transport deserts directly tackles the issues of car-dependency, transport emissions and social mobility. The growth of the business during the pandemic has been extraordinary and we are delighted to continue to support the business. The world needs more affordable and sustainable mass transit – Zeelo is defining the category,” adds Patrick Sheehan, Managing Partner at ETF Partners.
