The Verge reports that, Lime, the electric scooter company, has raised over $500 million in funding and confirmed plans to go public. The recent funding includes $418 million in debt financing and a $105 million loan. Unlike its rival Bird, Lime hopes to leverage its global presence and status to attract investors. The company, claiming to be the top scooter operator in the US and Europe, recently launched its fourth-generation electric scooter and achieved 250 million rides. Financial details for a sound business model assessment are yet to be disclosed.
I am a Lime user and I can’t wait to see them go public. We are still not seeing financial filings to judge whether they have a sound business model.