Cooltra has taken control of Cityscoot, its historical rival in France, which managed 60% of the shared motorcycle fleet in Paris.
The operation has occurred following a judicial decision, by the Paris Commercial Court, which has ruled in favor of the Barcelona firm's plan (and against the founder's proposal) to avoid the liquidation of the business.
Born in 1994, Cityscoot was a historic French operator, which had expanded to Barcelona, Rome, Milan, Turin and Nice but which in November entered bankruptcy proceedings after being unable to make its payments. According to Le Figaro, the majority shareholders – Caisse des Dépôts and the public transport company RATP – closed the tap on the investment, from which Cityscoot had been drinking without making a profit in any year.
After three months of bankruptcy proceedings, the judge has saved the company from total disappearance by validating Cooltra's plan, which contemplates acquiring the business for 400,000 euros and saving 30 of the 150 jobs. The Catalan company landed in Paris in 2021, so it already has a team in the city that will be able to assume a good part of Cityscoot's functions.
Likewise, users will be able, starting today, to use the 1,500 motorcycles that Cooltra has in the city. Now its vehicles will be recognized under the Cityscoot by Cooltra brand. The old fleet of the French company, from 2014, will be withdrawn from the market, says Le Figaro.
With this operation, Cooltra marks a new milestone in its bid to become one of the largest European shared mobility operators. The Catalan startup, founded by Timo Buetefisch in 2006, is present in a hundred locations in countries such as Spain, Portugal, France, Italy and Germany. According to data provided by the company, Cooltra has a fleet of 21,000 vehicles, including motorcycles and bicycles, that can be used by individuals and companies.
In 2022, Cooltra had a turnover of 47 million and this year it aims for 50 million euros. Under Buetefisch's leadership, 400 people work daily to expand this business, which remains owned by the Riberas family (Gestamp) and a group of German family companies that prefer to remain anonymous.
