Equip Capital & Goldman Sachs take majority stake in Ryde

A continuation fund managed by Equip Capital, with the backing of Goldman Sachs Alternatives as the lead investor, has acquired a majority stake in Ryde, a specialist in free-floating electric scooters. The transaction is accompanied by a capital injection aimed at financing the group's next phase of development across Europe. This deal enables Equip Capital, which has been the majority shareholder of Ryde since 2021, to provide a partial liquidity event for its investors while maintaining significant exposure to the company's future potential. The founders, management, and other historical shareholders also remain invested in the project, demonstrating their confidence in the company's growth prospects. Since Equip Capital's initial investment, Ryde has experienced rapid expansion, growing from a fleet of approximately 3,000 scooters in four Norwegian cities to a European platform with a presence in 69 cities across Norway, Sweden, Finland, and Germany. This growth has been accompanied by continuous improvement in operational performance, allowing the company to develop a rare profitable growth profile in the micromobility sector. The arrival of Goldman Sachs Alternatives is expected to accelerate this trajectory by providing additional financial resources to support geographic expansion and strengthen the group's competitive position. Ryde plans to continue its development in Germany, which has become its primary market outside of the Nordic countries, while gradually expanding its offerings to include new mobility solutions. The transaction also highlights the evolution of the micromobility sector towards more mature and economically viable models, capable of attracting top-tier institutional investors when growth is accompanied by a demonstrated path to sustainable profitability. The investment by Goldman Sachs Alternatives underscores the company's potential for long-term growth and its ability to attract prominent investors. With this new funding, Ryde is well-positioned to further solidify its position in the European micromobility market and explore new opportunities for expansion. The company's commitment to sustainable and profitable growth is expected to drive its continued success in the sector.

In the past, Ryde was acquired by Equip Capital in 2021 as part of its expansion strategy.