GOTO GLOBAL SIGNS STRATEGIC INVESTMENT AGREEMENT WITH AUTOMOTIVE MOBILITY GROUP ASTARA
GoTo Global, an international multimodal shared mobility company, today announced that it has signed a strategic investment agreement with the global mobility group, ASTARA. This investment comes as part of a pre-IPO Round and will see ASTARA invest $5 million in the company. This follows an investment of $6M that could raised from its existing investors.
GoTo, which currently operates in Israel, Germany, Spain and Malta, offers users an array of vehicles including cars, bikes, electric scooters and mopeds via a single app. To date, GoTo's 5,800 vehicles have been accessed by over 450,000 users, with nearly 3 million rides and $22 million in revenues reported in 2021.
ASTARA is one of the largest automotive mobility groups in the world, present in three continents, 16 countries, with over 200,000 vehicle sales per year and hitting an annual turnover in 2021 of €4 billion. Having international expertise and a broad understanding of the mobility sector, ASTARA delivers innovative tailor-made solutions for every brand and market by addressing major technology shifts and the changing mobility needs, where customers can access any kind of affordable and sustainable transport solutions. It offers a diversified portfolio of mobility products and services as ownership, subscription, B2B/B2C, and new digital channels.
This investment is part of the Pre-IPO round which GoTo Global is raising following its announcement of a planned merger with NeraTech Media, a company traded at the Tel Aviv Stock Exchange.
ASTARA will join an international group of existing shareholders: DBSI Group, led by Yossi Ben Shalom via Shagrir (Israel); Adam Neumann's family office Nazare Capital Management (US); the Ungar Family, one of Israel's leading automotive importers; DQuadrat Equity Partner (Germany); IBB Ventures (Germany); and Bonventure (Germany).
"Today is big step on our journey to making shared multimodal mobility accessible to all," comments Gil Laser, CEO of GoTo Global. "The arrival of a group with the scale, experience, and track record of ASTARA as an investor in GoTo really demonstrates that we are on the right road. Automotive players are acknowledging the changing needs and wants of users and are looking to be part of this change. At GoTo we continue to evolve our offering, allowing more and more users to access the right vehicle at the right time be it a car, a moped or a bike or kickscooter. This investment brings us closer to completing our planned merger and to converting GoTo into a public company."
"It is with great satisfaction that ASTARA signs a strategic investment agreement with a leading company like GoTo," comments Jorge Navea, CEO of ASTARA. "It will undoubtedly increase the scope of our business in today's highly competitive market. With the contribution of our extensive experience in digital transformation and the new mobility ecosystem, we are attached to drive long-term growth."
Last October, GoTo Global acquired Emmy, the leading German moped sharing company, present in Berlin, Hamburg and Munich, with over 300,000 users and 3,000 mopeds. Following the completion of the merger with Neratech, GoTo Global plans to bring its multimodal offering to these German cities adding cars and micromobility vehicles to the mix and increasing its B2B activity alongside other innovative product solutions.
About GoTo Global:
Founded in 2008 in Israel, GoTo Global is the world's leading provider of multimodal mobility services. The company offers users access to shared mobility solutions through its proprietary technology-driven application that enables them to reserve cars, mopeds, scooters, and bikes. The company currently operates in Israel, Germany, Malta and Spain, powering millions of trips via a fleet of thousands of diverse assets.
About ASTARA:
ASTARA is one of the largest automotive and mobility services groups in the world, with presence in three continents, 16 countries, with a turnover of €4 billion in 2021 and over 200,000 vehicle sales last year. Astara is present in Spain, Germany, Portugal, Austria, Belgium, Finland, Luxembourg, Netherlands, Poland, Sweden, Switzerland, Argentina, Chile, Colombia, Peru, and Philippines, representing 30 car brands. Astara provides a distribution and mobility ecosystem, encompassing all markets in which the group operates, including all options of ownership, subscription, use, and connectivity that bring along the latest technology.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220301005640/en/
Contacts:
GoTo Global:
Liliya Miringof, CMO
liliyami@gotoglobal.com
Astara:
Belen Valero, Brand and Communications Manager
belen.valero.a@astara.com
