The Dutch micro-mobility provider and scooter platform Check received a capital injection of 10 million euros from venture capitalists Slingshot Ventures and Ponooc. The investment will be used to enhance the development of the company’s self-built technology platform, which serves multiple municipalities and over 300.000 users on a daily basis. Additionally, Check will use the money to expand its national and international footprint.
700 percent growth in 2021
Two years ago, on February 4th 2020, Check launched with 160 shared e-mopeds in Rotterdam. Despite the COVID-19 pandemic, the company managed to grow rapidly and efficiently: in 2021 its fleet increased by 300% and its revenues by almost 700%. Even with several “lockdown-months”, the company became profitable on a group level in its second operational year. Today, Check offers more than 3,000 e-mopeds in Rotterdam, Amsterdam, the Hague, Breda, Groningen, Leeuwarden and Düsseldorf. The company distinguishes itself with its focus on data-driven growth, its own technology platform and a unique proposition that tailors to the needs of both municipalities and its inhabitants.
Contributing to more liveable cities
Check is on a mission to make cities more liveable. Shared e-mopeds are a proven and effective substitute for cars and contribute to less air and noise pollution, and less congestion in cities.
Paul van Merrienboer, co-founder of Check: “Research shows that our users make a significant contribution to countering the unnecessary use and -ownership of cars in cities. With Slingshot Ventures, we team up with powerful entrepreneurs with a digital focus. I am confident that together we can maximize our impact on cities, both national and international.”
Flash forward: data-driven growth
Check will use its capital injection to accelerate growth in various areas. First of all, the company will strengthen its proposition for both municipalities and users. The aim is to guide municipalities towards an efficient mobility mix, thereby contributing to their sustainability goals. Secondly, Check will use the money to speed up its national and international growth and strengthen its position in existing markets. Lastly, new technological features will be added to the platform. This requires new talent in the fields of data engineering and product- and software development.
Capital injection by Slingshot Ventures and Ponooc
Slingshot Ventures leads this investment round with participation of Ponooc. Slingshot Ventures invests in the future of the digital consumer and has previously invested in strong brands such as Boldking, Stox and VanMoof. Ponooc has invested in Check from the very beginning and is known for its investments in sustainable energy- and mobility solutions such as Swapfiets and Servicehouse.
Tom Kist, managing partner of Slingshot Ventures: “We are very impressed by the accomplishments of Check and its management team. We have been in the market looking for a micro-mobility investment for quite some time now. The short period of time in which Check managed to become a leading player in the Dutch market, with an emphasis on operational excellence and a strong brand, convinced us to join forces. This capital injection, given by us and Ponooc, will allow Check to pursue its international expansion strategy.”
Friso Bensdorp, director Ponooc: “Check has proven its ability to become and remain profitable by focusing on its own technology platform, data and operational excellence. We welcome Slingshot Ventures on board as co-shareholder, with its valuable experience in the field of consumer-tech companies.”