House of Lithium, a Canadian private equity firm, announced that it has acquired Reby, a Barcelona-based micromobility startup that manufactures its vehicles, for $100M.
Post-acquisition, Pep Gómez, co-founder, with the rest of the management team, will continue managing Reby, reports TechCrunch.
Bringing mobility closer
Co-founded by Pep Gómez, Kiran Thomas, Cristina Castillo, and Guillem Pagès in 2018, Reby is a multinational company involved in the design, construction, financing, operation (DBFO), and maintenance of public sharing transport infrastructure. It manufactures its vehicles, eschewing Chinese-made scooters.
The company is on a mission to bring mobility closer to everyone without pollution and in a sustainable way. Currently, the company is operational in 19 European cities, made around 3M journeys, and saved 3T of CO2.
Reby has raised total funding of $17.9M from various investors, including EXOR, 14W Ventures, Neo Fund, Fuel Capital, Hard Yaka, and Day One Ventures. Angels investors like Simon Rothman, Marcelo Gigliani, and Hugo Arevalo, also invested.
Last year, the Spanish company got approximately $15M of revenue with $3M EBITDA.
Pep Gómez says, “The financial capacity and capital markets expertise of the House of Lithium team makes this a great partnership with the extra power that Reby needs to continue its growth. The time for EV companies burning money with artificial growth is over, giving us a massive opportunity to win in an untapped market focusing on infrastructure regulation and R&D development in security and public space occupation, which is imperative for cities.”
House of Lithium
House of Lithium provides growth equity to small and mid-sized companies in the electric mobility value chain.
Kevin Taylor, Chairman of the House of Lithium, says. “Combining Reby’s leading IoT technology and proven ridesharing business model with House of Lithium’s manufacturing, distribution, e-commerce, and retail assets will contribute to creating an end-to-end mobility platform to maximize top-line opportunities and bottom-line results.”