Check, a leading Dutch tech-centric micro-mobility provider and moped platform, announced the Private Placement from Slingshot Ventures and Ponooc. Slingshot Ventures leads this investment round with continued participation of Ponooc, who invested in Check from the beginning. The growth investment will be used to enhance the development of the company’s self-built technology platform, which serves numerous large municipalities and over 300K users on a daily basis. Additionally, Check will use the funds to further accelerate its national and international footprint.
IMPROVED acted as the exclusive financial advisor to Check in this micro-mobility private placement transaction. Leveraging its extensive deal-making track record, deep understanding of the market dynamics, and extensive investor network in the Mobility and Technology domains, the IMPROVED team was able to secure the best investment partners for Check. With Slingshot Ventures and Ponooc, Check has two very experienced growth investors on board. Check will use its capital injection to accelerate growth. First of all, Check will strengthen its proposition for both municipalities and users. Secondly, Check will use the capital to speed up its national and international growth and strengthen its position in existing markets. Lastly, new technological features will be added to the platform.
Check launched two years ago, on February 4th 2020, rolling out 160 shared e-mopeds in the city of Rotterdam, the Netherlands. Despite the COVID-19 pandemic, the company managed to grow very rapidly and efficiently: in 2021, its fleet increased by 300% and its revenues by almost 700%. Despite several “lockdown-months”, the company became profitable on a group level in its second year of operations. Today, Check offers more than 3K E-mopeds in Rotterdam, Amsterdam, the Hague, Breda, Groningen, Leeuwarden and Düsseldorf. The company distinguishes itself with its focus on data-driven growth, its own technology platform, and its unique proposition that tailors to the needs of both municipalities and its inhabitants.
