Cooltra enters Germany and closes a 25 million round

More financial muscle for Cooltra. The current shareholders of the Barcelona-based shared motorcycle and bicycle company have injected an additional 25 million euros into the company with the aim of advancing its international expansion plan, which includes entering new countries such as Poland and Germany. Cooltra's goal is to close 2022 with revenues exceeding 45 million euros, a figure that will represent a 42% growth compared to the 31.7 million invoiced last year.

The new capital increase raises the resources raised by Cooltra to 100 million euros in the various financing rounds it has secured since 2006. "We have big plans for the coming years; this new capital injection is the result of the confidence that shareholders have in the company and allows us to gain muscle to jump into new strategic European markets, expanding and electrifying our vehicle fleet and offering new innovative services that improve the daily lives of our users and clients," highlights Timo Buetefisch, founder and CEO of Cooltra.

Cooltra has just landed in Germany, a particularly significant country for the company, as it is the founder's home country. Entry into this country is not through the motorcycle rental service for individuals, but through the two-wheel vehicle renting division for companies. Operations have already begun in the cities of Cologne, Hamburg, and Frankfurt with electric motorcycle and bicycle renting, and Hannover will also open soon. "Germany's great tradition in cycling allows us to project significant growth in the ebike segment, being the vehicle that currently has the most demand among our German customers," emphasizes Buetefisch.

In 2021, Cooltra also entered Poland with the help of the food delivery company Just Eat. In total, the brand born in Barcelona has a presence in eight countries through its two business lines: rental to individuals (B2C) and to companies (B2B). In addition to being a prominent player in Spain in the emerging motosharing segment, Cooltra is already the leading operator by market share in Italian cities such as Rome and Milan. In Paris, with only one year of activity, it has managed to gain a 20% market share. In total, Cooltra operates in seven European cities with a fleet of 9,500 vehicles, including motorcycles and bicycles. With the new round of financing, the challenge is to enter new cities in the coming months.

Cooltra already employs more than 400 people and in the last year has executed investments of more than 10 million euros aimed at expanding and renewing its fleet, which totals 19,000 vehicles, 75% electric. In addition to the rental service by minutes or long-term for individuals, the company has all types of companies and Public Administrations as clients. The challenge is to reach revenues of 45 million this year and "a positive double-digit ebitda margin," so it expects a "record year in its history."