This is the second investment from Z Energy, following a $250K investment in September, 2017
Australasia’s first free-floating car share, Mevo, has acquired an additional $300,000 (NZD) investment from New Zealand transport energy company, Z Energy (ZEL). It has also managed to secure new funding from European Motor Distributors (EMD) and The Wellington Company (TWC). With both EMA (Audi NZ’s parent company) and TWC becoming 2.1% shareholders, respectively, Z Energy are now 12% shareholders.
As Mevo prepares for further expansion of its team and network, the latest investment will further fuel its growth for the company, this follows an enormous six months which has included a series of strategic hires, doubling its membership, rolling out at Wellington Airport, and launching the first free-floating car share service in Australasia.
Mevo Chief Executive and Co-Founder, Erik Zydervelt, said, “It’s really promising to see established New Zealand companies like Z Energy, The Wellington Company, and European Motor Distributors actively engaging in environmentally responsible, future-focused initiatives.”
Mevo is at the cutting edge of sustainable transport alternatives in New Zealand, as the world’s first climate positive car share.
Glynn Tulloch, Group General Manager, EMD said that they support Mevo’s vision for innovative mobility-on-demand and applaud what it has achieved for inner-city transport in just a few short years. He said, “Mobility solutions are part of the future, particularly for urban New Zealand. Mevo is bringing that innovation right now and we are confident that Mevo plays an important role in our future.”
The importance of innovation in providing mobility solutions that are better for the planet and simply better for customers are also recognized by Z Energy, which has led to its continued support for the homegrown startup.
Z Chief Executive, Mike Bennetts, commented that Mevo has the potential to change the way New Zealanders think about urban transport. “Mevo is helping New Zealanders reconsider traditional car ownership and transport. By deepening our investment in Mevo, we hope to enable more Kiwis to jump in the driver’s seat of the future. It also enables Z to explore the future of mobility and learn more about changes in the way our customers are getting from A to Z.”
A major part will be had in the continued expansion of Mevo’s infrastructure within Wellington, and further afield due to the Investment from Z Energy, The Wellington Company and European Motor Distributors. Mevo has focused on achieving product market fit and launching free-floating in May, Since the last investment. Mevo has achieved a 100 per cent increase in monthly trips in its vehicles and was named winner of the Emerging Gold category at the Wellington Gold Awards, in the wake of the free-floating launch.
Mevo, with the latest investment, will continue to add talent its team and focus on scale and rapid growth. Two industry veterans have been recently appointed by the company, Maryon Wils as Head of Enterprise Sales and Sophia Rizos as Head of Growth. Erik concluded that Maryon and Sophia share their vision for the future of thoughtful urban mobility, and their experience will be fundamental as they build on their recent momentum. PWKD19072018
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