Bird to Invest $150 Million in European Expansion

Bird Scooters Announces $150 Million European Expansion

Bird, a leading shared micromobility company, has announced a substantial $150 million investment dedicated to expanding its operations throughout Europe.

Expansion Details and Geographic Reach

This significant investment will facilitate the launch of Bird’s services in over 50 additional cities across Europe within the current year. This expansion is projected to effectively double the company’s existing presence in the region.

The rollout is already in progress, with recent deployments of Bird scooters in Bergen, Norway; Tarragona, Spain; and Palermo, Italy.

Beyond Geographic Expansion

Bird’s growth strategy extends beyond simply entering new markets. The company is also focused on augmenting its existing fleets in nearly 50 cities where it currently operates.

Furthermore, Bird has committed to several new initiatives, including the introduction of novel mobility products and enhanced safety measures. These plans also encompass advancements in vehicle recycling and second-life applications, alongside investments in equity programs and the establishment of strategic regional partnerships.

Future Products and Partnerships

Specific details regarding these forthcoming mobility products, safety enhancements, and recycling programs remain undisclosed. A Bird representative indicated that these will involve new vehicles and “transport modes” tailored for the European market.

The nature of the “securing partnerships” initiative is also yet to be fully defined. It could potentially involve broadening the Bird Platform franchise program or forging alternative collaborations with local authorities or operators.

The Bird Platform, initially launched in November 2018, allows independent operators to manage scooter fleets in exchange for a percentage of ride revenue.

Continued Programs and Leadership Changes

Bird intends to incorporate programs like the subsidized ride passes announced recently into its expansion plans.

To spearhead this ambitious undertaking, Renaud Fages has been promoted to head of operations, and Brendan O’Driscoll has been appointed as global head of product.

Funding the Expansion

The financing for this expansion will be sourced from “existing resources,” according to a Bird spokesperson. However, the company’s financial position has been impacted by the pandemic, the acquisition of Circ, and the costs associated with launching new operations while maintaining current fleets.

In June of the previous year, Bird discontinued scooter-sharing services in several Middle Eastern cities, an operation previously managed by Circ.

The company’s last publicly announced fundraising occurred over a year ago, with a $275 million Series D round in September 2019, later increased to $350 million.

Reports suggest that Bird was nearing a new funding agreement. The Information reported in January that the company was finalizing a deal to secure over $100 million in convertible debt, led by existing investors Sequoia Capital and Valor Equity Partners.

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