- Lime is raising a $300 million series-D financing round that increases its valuation to $2.4 billion.
- Scooter companies have seen skyrocketing growth in the past year as venture capital money pours into the space.
Scooter rental startup Lime announced Wednesday it’s raised $310 million in a series D financing round that boosts its already massive valuation to $2.4 billion.
The announcement confirms earlier reports from Axios that the financial giant Fidelity was interested in investing in a scooter company. However, those reports said Fidelity was interested in Bird. Other backers include Bain Capital Ventures as the lead investor, with Andreessen Horowitz, GV, and IVP also joining the round.
To date, Lime has raised $867.1 million, according to PitchBook data.
In the past year, Lime and its competitors like Bird saw massive growth. Lime now reaches 15 countries on five continents, a spokesperson said. New York, already the most lucrative market for ride-hailing, is considering legalization of scooters soon – and Lime has been working to increase public support and excitement with a pop-up shop in Manhattan.
In December, there were rumors that Uber was interested in possibly buying another scooter company to add to its arsenal that already includes Jump Bikes.
“The funds will pave the wave for expansion in new markets, technology enhancements and continued investments in rider safety and city collaboration,” the company said in a press release.