LimoLane funding news- Mobility Company LimoLane Secures €35 Million in Funding

It has more than 6,000 ride-hailing companies operating in more than 500 cities and 50 countries worldwide. With a relative EBITDA margin of more than thirty percent, the company's revenue is expected to reach €34 million in 2024, having surpassed €8 million in 2022 and €16.5 million in 2023.

Read also - Hi-Tech Apparel Acquisition news – London-based Unmade has been Acquired by Hi-Tech Apparel

With the help of FG2 Capital, a number of individual investors, and business-owning families, Cherry Bay Capital Investment Club Spa completed the funding.

Fabio Nalucci, President of LimoLane, shared: "This fundraising demonstrates the possibility of achieving digital innovation in traditional sectors by combining industry and finance to create a global champion in a still highly local sector."

Mattia Rossi, founding partner of Cherry Bay Capital Group, states: "We consider LimoLane one of the most promising expansion operations in the small and mid-cap private equity sector and Fabio Nalucci a leading figure in Italy in the field of digital transition."

Through stepping up investments and stepping up partnerships with the event industry, the financing will enable it to carry on growing throughout Europe.

About LimoLane

Operating in more than 500 cities globally, LimoLane is the premier digital platform for premium corporate transportation. They provide specialised huge fleets of first-class chauffeurs and luxury automobiles, and they handle everything from individual transfers to event mobility. They provide business clients with an easy-to-use platform that handles all aspect of workplace mobility management, including expense reporting and booking.