GoTo Global, an international multimodal shared mobility company, today announced that it has signed a strategic investment agreement with the global mobility group, ASTARA (formerly Berge Auto). This investment comes as part of a pre-IPO Round and will see ASTARA invest $5 million in the company. This follows an investment of $6M raised from its existing investors.
GoTo, which currently operates in Israel, Germany, Spain and Malta, offers users an array of vehicles – including cars, bikes, electric scooters and mopeds – via a single app. To date, GoTo’s 5,800 vehicles have been accessed by over 450,000 users, with nearly 3 million rides and $22 million in revenues reported in 2021.
ASTARA is one of the largest automotive mobility groups in the world, present in Europe, Latam, and Southeast Asia. In 2021 the company recorded sales of over 200,000 vehicle and registering an annual turnover of €4 billion.
The companies recognize that the shift towards shared mobility is well underway with many cities across the globe recognizing the economic, environmental, and social benefits of reduced traffic congestion. The shared mobility market is in fact expected to grow rapidly over the coming years, reaching an estimated $675B by 2025. Europe will account for 20% of this market and GoTo is well positioned to seize on this opportunity with its shared multimodal mobility offering.
This investment is part of the Pre-IPO round which GoTo Global is raising following its announcement of a planned merger with NeraTech Media, a company traded at the Tel Aviv Stock Exchange.
ASTARA believes in GoTo’s technology, customer proposition and its international expansion potential. The company will join a growing group of investors backing GoTo Global: these include DBSI Group, led by Yossi Ben Shalom via Shagrir (Israel); Adam Neumann’s family office Nazare Capital Management (US); the Ungar Family, one of Israel’s leading automotive importers; DQuadrat Equity Partner (Germany); IBB Ventures (Germany); and Bonventure (Germany).
“Today is big step on our journey to making shared multimodal mobility accessible to all,” comments Gil Laser, GoTo Global’s CEO. “The arrival of a group with the scale, experience, and the track record of ASTARA as an investor really demonstrates that we are on the right track. Automotive players are acknowledging the changing needs and wants of users and are looking to be part of this change. As a result we continue to evolve our offering, allowing more and more users to access the right vehicle at the right time – be it a car, a moped or a bike or kick scooter. We put the user in control. This investment brings us closer to completing our planned merger and to converting GoTo into a public company.”
Last October, GoTo Global acquired Emmy, the leading German moped sharing company, present in Berlin, Hamburg and Munich, with over 300,000 users and 3,000 mopeds. Following the completion of the merger with Neratech, GoTo Global plans to bring its multimodal offering to these German cities – adding cars and micro mobility vehicles to the mix. Furthermore, the company also plans to increase its B2B activity along with launching other innovative product solutions.
About GoTo Global:
Founded in 2008 in Israel, GoTo Global is the world’s leading provider of multimodal mobility services. The company offers users access to shared mobility solutions through its proprietary technology-driven application that enables them to reserve cars, mopeds, scooters, and bikes. The company currently operates in Israel, Germany, Malta and Spain, powering millions of trips via a fleet of thousands of diverse assets.
About ASTARA:
ASTARA (former Berge Auto) is one of the largest automotive groups in the world, with presence in three continents, 16 countries, with annual turnover of €4 billion and over 200,000 vehicle sales per year. Astara is present in Spain, Germany, Portugal, Austria, Belgium, Finland, Luxembourg, Netherlands, Poland, Sweden, Switzerland, Argentina, Chile, Colombia, Peru, and Philippines, representing over 25 car brands.
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