Zeelo raises £8.6m Series A follow on investment led by ETF Partners for international expansion
The round was led by ETF Partners and will fund expansion in the US, Europe and Africa alongside software development.
Zeelo is a global transit technology company that powers private bus and shuttle transport for employers, schools, and bus operators. The firm provides a software platform and managed services to improve commuting efficiency and sustainability.
Bus commuting platform Zeelo has secured £8.6m in a Series A follow on funding round led by ETF Partners, with participation from InMotion Ventures and various angel investors. The fresh capital will be deployed to drive international expansion across the US and Europe, scale its software as a service offering for fleet partners, and support the transition towards zero emission electric buses.
The raise follows a period of rapid expansion for the company, which experienced 600 percent revenue growth during the pandemic by helping employers and educational institutions provide sustainable transport options for car dependent areas. Zeelo currently serves over 70 customers with a team numbering more than 75 employees.
From the founder
"Outside urban centres, the vast majority of people need a car to access work and education. Amongst 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 transportation. In the past 18 months, employers have realised the importance of it too. Now it’s time to bring this to the masses"
Sam Ryan
Co-Founder and CEO at Zeelo
Investor perspective
"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"
Patrick Sheehan
Managing Partner, ETF Partners
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
Zeelo
Zeelo provides transit technology and managed private bus services for employers and schools.