IRELAND 29th AUGUST 2022: Ireland’s largest micro-mobility company, ZEUS Scooters, announced today its cash-plus-equity acquisition of Zwings, the leading British e-scooter sharing company.
Founded in 2019 by ex-banker Damian Young, ZEUS launched in Germany in 2020 and has since expanded to 42 cities spanning 6 countries and 2 continents. With a fleet of over 5000 unique 3- wheeled e-scooters, it has operations across Germany, Norway, Sweden, Croatia, Italy and Malaysia.
Zwings offers similar fleet sharing services across towns, cities and universities in the UK. With 78,000 customers, 15 staff and a track record of excellent performance, Zwings has become one of the most successful companies to operate under the DfT’s Micro Mobility Trials, which have been extended to 2024. Zwings has built close partnerships with local authorities and has presented on various panels to discuss how to improve safety measures for this new vehicle on UK streets.
ZEUS will initially offer its 2-wheeled scooter in the UK. Once UK legislation expands to allow for other models, however, ZEUS has confirmed that it intends to introduce its safer and more stable 3- wheeled scooter in the market. ZEUS has proven in other markets that their unique 3-wheeled scooter makes the use of this vehicle category more appealing to a much wider range of users, including older generations and those with disabilities, while also helping prevent misuse and dangerous driving.
ZEUS recently closed a €5 million funding round with investors including Enterprise Ireland and BVP Investments. The company’s continued expansion and development of proprietary hardware and software has impressed investors and will further support its continued expansion in 2023.
Speaking about the acquisition, Damian Young, Founder and CEO said “We are delighted to be entering the UK market as our nearest neighbour and we hope to further enhance the positive impact that Zwings has made in the UK market”
CEO and Founder of Zwings Ltd, JP Lewin, commented “we are thrilled to be joining the Zeus family and their visionary team and we look forward to combining our operational knowledge to achieve continuing success both in the UK and other markets in the years to come. Both companies share a similar interest in providing hyper-localised transport services tailored to the communities they serve”.
ZEUS has recently opened its new offices in Kildavin, Co. Carlow and employs 36 people in Ireland and over 100 people in its markets globally.
Damian Young added “we have invested in Ireland and have created our Global Head Office here as well as creating sustainable employment in the local market, in anticipation of legislation governing micro mobility in Ireland.”