Stockholm-based micro-mobility firm, Voi Technology, has successfully raised €50 million through a bond issuance, contributing to its larger goal of securing €125 million in total funds. Bond investors have shown considerable interest, with demand exceeding expectations. This financial backing signals significant confidence in Voi’s growth strategies. The company plans to utilize the funds to bolster its fleet of e-scooters and e-bikes, highlighting its commitment to expanding sustainable transportation options. With transportation becoming increasingly focused on sustainability, Voi’s initiative indicates a pivotal moment in urban mobility solutions.
In 2023, Voi made notable strides, optimizing costs and achieving profitability goals. These efforts have continued from previous years, where the company already showed signs of growth and cost management. Reflecting on past initiatives, Voi has consistently worked to enhance its operational efficiency and expand its fleet to meet growing demand. The current bond issuance builds on these foundations, aiming to further strengthen Voi’s market position.
What Drives Voi’s Financial Success?
A considerable reduction in central costs, nearly halved since mid-2022, is a testament to Voi’s strategic financial management. The introduction of data-driven technologies and investment in next-generation vehicles have significantly boosted profit margins per ride. These improvements align with Voi’s commitment to efficient resource utilization. By focusing on innovative technologies, including the latest e-scooter and e-bike models, Voi aims to optimize rider experience and economic viability.
“The successful bond issuance reflects a strong vote of confidence from professional investors in Voi’s ongoing initiatives and strategic direction,”
stated Mathias Hermansson, CFO and Deputy CEO at Voi.
Voi’s Role in Urban Mobility?
Voi Technology’s mission extends beyond mere transportation services. Since its inception in 2018, the company has prioritized sustainable urban development. Operating Europe’s largest licensed scooter programs, Voi has been instrumental in reducing urban pollution and traffic congestion. Collaborating with city officials, Voi addresses local transportation challenges and integrates seamlessly with public transport systems.
Fredrik Hjelm, co-founder and CEO, emphasized Voi’s vision:
“We want to change how people get around for good and move cities away from the car-biased culture of the 20th century.”
This vision aligns with global sustainability goals by promoting cleaner, more efficient urban transit solutions.
Looking forward, the company seeks to further scale operations in both new and existing markets, contributing to cities’ climate and traffic objectives. The decision to list the bonds on Nasdaq Stockholm points to Voi’s ambition for greater transparency and investment appeal.
Voi’s journey in providing sustainable transport solutions is a reflection of broader trends in urban mobility. By leveraging technology and strategic investments, Voi is set to play a leading role in creating cleaner, more accessible cityscapes. The recent bond success marks a new chapter in its growth narrative, aiming for greater operational scale and market penetration. As micro-mobility continues to gain traction, Voi’s approach could serve as a model for other companies in the sector, emphasizing the importance of adaptability and innovation.
