Rabbit Mobility, a pioneer in micromobility in Egypt, has just completed a $1.3 million funding round led by venture capital firm 500 Global and Untapped Global, a specialist in smart asset financing. This major fundraising will enable the company to accelerate its mission: to offer Egyptians sustainable, efficient, and accessible transportation alternatives.
With over 1 million trips completed and 450,000 users, Rabbit Mobility has already demonstrated its great potential. This new funding will enable the company to:
- Expand its offer: By tripling its fleet, Rabbit Mobility will be able to serve new areas and meet ever-increasing demand.
- Improve the user experience: Thanks to investments in technology, Rabbit Mobility will make its services even smoother and more intuitive.
- Accelerate its expansion: The company is already considering expanding into other African markets, where the need for sustainable mobility is just as important.
Expressing his delight at this investment, Kamal ElSoueni, CEO and co-founder of Rabbit Mobility, stated: “Their support will enable us to accelerate our growth, expand our fleet, and improve the experience of our users, making micromobility more accessible and convenient for Egyptians across the country.”
By relying on electric vehicles and encouraging active modes of transport, Rabbit Mobility is helping to reduce air and noise pollution in cities. The company is thus part of a sustainable development approach, in line with current environmental challenges.
Founded in 2020 by Kamal ElSoueni, Mohamed Mansoury, and Bassem Magued, Rabbit Mobility has quickly gained popularity thanks to its fleet of electric scooters and bicycles, offering a clean and practical transportation solution for urban journeys. The company’s vision is clear: to reduce congestion, decrease carbon footprint, and improve the quality of life in Egyptian cities.
