At what enterprise value was RYDE acquired in 2026?

During the acquisition of RYDE by EQUIP CAPITAL / GOLDMAN SACHS in 2026, the transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR.

What was the EV/EBITDA of RYDE when it was acquired by EQUIP CAPITAL / GOLDMAN SACHS?

The estimated EV/EBITDA multiple for RYDE is in the range of 10x - 18x.

When was RYDE acquired by EQUIP CAPITAL / GOLDMAN SACHS?

RYDE was acquired by EQUIP CAPITAL / GOLDMAN SACHS in 2026.

What was the revenue of RYDE at the time of the deal?

The revenue of RYDE at the time of the deal is estimated to be in the range of 50M - 100M EUR.

What was the EBITDA of RYDE during the acquisition?

RYDE's EBITDA is estimated to be in the range of 25M - 50M EUR.

How is the data for the RYDE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the RYDE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://micromobility.io/news/goldman-sachs-backs-ryde-in-a-landmark-deal-for-micromobility

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Home Database Retail & ConsumerRYDE

06/2026

EQUIP CAPITAL & GOLDMAN SACHS take majority stake in RYDE

NORWAY Consumer Products / Sport / Cycling & Micromobility EV 300M - 700M EUR

Context

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.

It is worth noting that the fund Equip Capital took control of Ryde through an LBO in 2021.

RYDE, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (11.0x).

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Target

Ryde is a micromobility operator founded in 2019 by Johan Olovsson and Espen Rønneberg. Headquartered in Oslo, the company offers urban mobility solutions primarily based on dockless e-scooters for short-distance trips in city centers. Ryde has established itself as a leading independent player in Northern European micromobility, driven by a business model focused on operational profitability and complete control over its value chain. Unlike many of its competitors, Ryde manages its technology, fleet, and daily operations in-house, enabling the company to optimize costs and enhance the efficiency of its network. With a fleet of over 120,000 vehicles deployed across 69 cities in Norway, Sweden, Finland, and Germany, Ryde's platform serves approximately 880,000 monthly active users, who have completed nearly 63 million trips as of 2025.

Ent. Value

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2024

Other operations with RYDE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
06/2021	EQUIP CAPITAL	RYDE	NORWAY	Cycling & Micromobility

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 50M - 100M EUR

EBITDA range: 25M - 50M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of RYDE by EQUIP CAPITAL / GOLDMAN SACHS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: ryde

Acquirer: equip capital / goldman sachs