Yego raises €7.5 million from Ponooc

Yego, a Barcelona, Spain-based operator of an on-demand rental electric motorcycles, announced raising an investment round of €7.5 million ($8.5M).

The money was provided by the the Dutch investor Ponooc and will be used to expand the company's reach in Seville, Malaga and a French city.

Yego, founded in 2016 in Barcelona by Tim Ougeot, Benjamin Viguier and Yann Sander, built and operates a fleet of 1,850 electric motorcycles. The service is available in Barcelona, ​​València and Bordeaux (where it operates on a franchise basis) and had sales of 3.3 million in 2019. The bikes are manufactured by the German firm Emco.