Irish micromobility start-up Zipp Mobility has just closed a €6.1m funding round today (23 June) to expand its e-bike and e-scooter services in Ireland and beyond.

One of the first companies to feature on SiliconRepublic.com’s Start-up of the Week series in 2022, Zipp is currently operating shared e-scooters and e-bikes in towns and cities across the UK and Poland, with plans for expansions and further launches in Spain and Ireland.

The latest funding round, a mixture of equity and debt, was led by UK-based asset manager Fasanara Capital and backed by existing investors.

The start-up is headquartered in Dublin’s NovaUCD, where it was founded by CEO Charlie Gleeson in 2019 to innovate in the micromobility space that is projected to reach up to $500bn in value by 2030.

Zipp said it will use the latest funding to expand its operations in existing markets and invest in its growth and operations team.

“It’s great to have so many investors who believe in our long-term vision of ‘mobility done right’,” said the 26-year-old entrepreneur and graduate of University College Dublin, who has been able to extend Zipp’s reach to nine cities across Europe so far.

“This funding will help us bring this approach to more cities and provide more people in Ireland, the UK and mainland Europe with sustainable, safe and community-centric micromobility solutions.”

Fasanara CEO Francesco Filia said that the firm was attracted to investing in Zipp, an Enterprise Ireland high-potential start-up, because of its “differentiated market position and unique value proposition to local government partners”.

“Zipp are an evolved player in the mobility space with a proven track record, sophisticated tech infrastructure and a quality-driven approach and we believe these factors will continue to drive the company’s success in this fast-growing market,” Filia added.

Funding so far has come from private investors – including Balderton Capital founder Barry Maloney and former rugby player Brian O’Driscoll – as well as support from Enterprise Ireland.

Earlier this year, Zipp Mobility struck a deal with taxi service Free Now to allow users to book e-scooters and e-bikes from the transport app, setting the wheels in motion for its long-awaited Irish launch.

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