CityBike plans significant expansion following new investment

CityBike is pushing ahead with ambitious expansion plans after Sherpa Capital acquired a stake in the Spanish micromobility company.

Founded in Spain 2014, CityBike first put itself on the map with its successful operation of Helsinki’s public bicycle system and, since then, it has taken on three other concessions in Finland and Peru.

Lars Becker, partner at Sherpa Capital, said: “Our investment in CityBike will provide the company with resources to execute its expansion plan and, additionally, will serve to support the management team organisationally with a focus on business development and business scalability. Throughout this process, we will also count with the extensive experience of Moventia, which will continue to support the development of CityBike.”

Jordi Cabañas, general director of Moventia’s public bicycle division CityBike, added: “Sherpa’s arrival in our company consolidates our international growth project and leaves us in an excellent position to implement a large number of shared bicycle systems in cities in Europe and Latin America.”