Hopp, an Iceland-based micromobility SaaS solution and e-scooter sharing franchise, announced that it has raised $2.8 million (approx €2.47M) in a fresh round of funding to drive the international growth of its franchise strategy.
The investment came from Brunnur Ventures. It is a venture capital firm based in Iceland focused on Seed and early-stage investments emphasizing innovation and growth.
Hopp is focused on expanding its services to smaller cities, local travel, and smaller fleets. According to the startup, more than 95 percent of cities in Europe with less than 500,000 inhabitants are currently unserved.
Company: Hopp ehf.
Round: Fresh Round
Funding Month: December 2021
Lead Investors: Brunnur Ventures
Company Website: https://hopp.bike/
Software Category: Micromobility SaaS solution & e-scooter sharing franchise
About the Company: Founded in 2019, Hopp was launched in Iceland by a team of software developers with the belief that micromobility is for everyone, anywhere and its mission is to leave behind a cleaner planet, one ride at a time. Hopp Mobility is an electric scooter sharing service & micromobility SaaS solution, the company is expanding its service by enabling individuals to launch and operate a Hopp franchise in their area, investing in a rapidly growing market, and launching their fleet on an advanced software platform with guidance, curated best practices, and ongoing support. Franchisees can manage every aspect of their operation from a single comprehensive dashboard. Hopp claims to provide a sustainable transportation solution for the modern city enabling riders to travel without leaving a carbon footprint. It aims to leave behind a cleaner planet, one ride at a time, with all parts of the business being carbon negative. Hopp now has 2300 scooters and 170,000 users in 3 countries, growing at a steady rate, with all franchisees making a return on their investment within one year of launch.