Mobility startup Zeelo raises R175m in funding, achieves staggering revenue growth

Commuter mobility platform Zeelo has raised R175m in funding to accelerate its expansion in Africa, the UK, US and Europe, investment in its software as a service technology offering and the continued rollout of fully electric bus shuttle programmes. The company has recorded 600% revenue growth over the past 18 months, reaching regional profitability.

Zeelo will use the capital to accelerate African and global expansion, as well as roll out its technology platform as a software as a service solution to fleet operator partners and encouraging the transition to zero-emission buses and coaches. The round was led by ETF Partners, with participation from InMotion Ventures and various angel investors including Neil Smith, Founder of Transit Systems.

“What we’ve seen is the lack of safe and efficient shared transport. Amongst our shift-worker customers, 30% of staff struggle to get to work as they don’t have access to safe transport. Zeelo is playing an important role in improving social mobility and decarbonising transportation. In the past 18 months, employers have realised the importance of it too. Now it’s time to bring this to the masses” said Sam Ryan, co-founder and CEO.

“Zeelo’s focus on public transport deserts directly tackles the issues of poor public transport, 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, ” added Patrick Sheehan, managing partner at ETF Partners.

The company works with employers, schools and fleet operators to deliver transport services that provide an alternative to public transport options or driving a car in order to support staff safety and reduce CO2 emissions from commuting.