Beltone Venture Capital, a subsidiary of Beltone Holding, has embarked on a significant international venture by securing a strategic equity stake in VelyVelo, a French company specializing in electric bike rentals. This marks Beltone’s first foray into international investments, reflecting its commitment to sustainable and innovative mobility solutions in the Middle East and North Africa (MENA) region.
While the exact size of the investment remains undisclosed, the strategic partnership is poised to drive VelyVelo’s expansion into MENA, where the demand for sustainable transportation is on the rise. Founded on a full-service subscription model, VelyVelo has made significant strides in fleet management, currently operating over 5,000 electric bikes catering to delivery drivers, freelancers, and transport companies. The company has established its presence in both the French and Moroccan markets, with plans to extend its services to Spain and Belgium.
Ali Mokhtar, CEO of Beltone Venture Capital, emphasized the importance of this investment in his statement: “Through this strategic equity investment, we are committed to working hand in hand with VelyVelo to accelerate its expansion across the MENA region through Beltone’s support and bring innovative, sustainable mobility solutions to new markets.” This collaboration aims to promote sustainable mobility practices, aligning with global trends toward greener transportation options.
The move aligns with Beltone’s vision of fostering innovation in climate-tech and sustainable initiatives, particularly in a region that is increasingly grappling with urban congestion and environmental challenges. As MENA cities look for effective solutions to address these issues, VelyVelo’s electric bike rental model offers a practical alternative for urban mobility.
In recent years, the electric mobility market has gained traction, with governments and private sectors investing in infrastructure to support electric vehicles. VelyVelo’s business model not only provides eco-friendly transportation options but also caters to the growing gig economy, making it a timely investment for Beltone as it seeks to diversify its portfolio.
As both companies work together to implement VelyVelo’s operations in the MENA region, they face the challenge of navigating varying regulatory landscapes and consumer behaviors across different countries. However, with the rising trend of sustainability and innovation in transportation, the partnership is well-positioned to make a meaningful impact.
Beltone’s entry into the French market through VelyVelo signifies a growing interest in cross-border investments that prioritize sustainability. This investment could also pave the way for future collaborations between Egyptian and European companies in the climate-tech sector, promoting knowledge transfer and technological advancement.
With its strategic investment in VelyVelo, Beltone Venture Capital is not only investing in a promising business but also championing a broader movement toward sustainable and innovative mobility solutions in the MENA region, which is critical as cities evolve to meet the challenges of the 21st century.