Date
9/30/2024 11:05:15 PM
(MENAFN- Daily News Egypt) Beltone Holding, one of the fastest-growing financial institutions, has announced that its fully owned subsidiary, Beltone Venture Capital (BVC), has completed its first international investment through a strategic investment in VelyVelo, a leading French e-bike rental company, specializes in optimizing e-bike fleet management through a full-service subscription and an all-in-one technology platform. The investment aims to support VelyVelo’s expansion across the Middle East and North Africa (MENA), bringing innovative and sustainable mobility solutions to new markets.
Operating over 5,000 electric bicycles, VelyVelo offers rental services to delivery drivers, freelancers, transport companies, and artisans. It is available 24/7 and active in the French and Moroccan markets, with plans to expand into Spain and Belgium.
Ali Mokhtar, CEO of Beltone Venture Capital, stated:“Through this strategic equity investment, we are committed to working hand in hand with VelyVelo to accelerate its expansion across the MENA region through Beltone’s support and bring innovative, sustainable mobility solutions to new markets.”
Asmaa Chakir Alaoui, CEO and Co-founder of VelyVelo, commented:“As VelyVelo continues to lead the global shift in urban mobility, we are proud to be a true game changer. Following our success in Europe and Morocco, the MENA region is our next frontier. To fuel this expansion, we welcome Beltone as a strategic investor to help drive sustainable mobility solutions into new markets”
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Publish date : 2024-09-30 16:05:00
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