Danish micromobility operator Donkey Republic has secured a DKK 61 million (€8.2 million) loan to fuel its growth in 2025.
The debt facility was signed today with a consortium of lenders including the Export and Investment Fund of Denmark (EIFO), the Nordic Environment Finance Corporation (NEFCO) and Denmark’s Sydbank.
Approximately 60% of the funds will be used to support Donkey Republic’s planned growth investments, with the remaining 40% to be used on refinancing and replacing older, more expensive loans.
“This investment boosts the micromobility industry’s credibility with external stakeholders by demonstrating that profitable and sustainable growth is achievable,” Donkey Republic Chief Financial Officer Christian Dufft told Zag Daily.
“Donkey Republic is proud to be at the forefront of this positive trend and pleased that our strategy and hard work is yielding excellent results. We’re also happy to see similar progress from other micromobility operators.”
Christian said that a significant portion of the loan will be used to expand the shared operator’s bike fleet in 2025 with special details of the fleet expansion to be announced later this month.
“This will allow us to meet rising demand within our focus markets, and ultimately increase revenue and profitability.”
The new loan comes just months after Donkey Republic announced a capital raise of DKK 14.9 million (€2 million) to provide the capital for fleet and growth investments as the operator onboards new long-term contracts.
In H1 2024, the operator recorded a positive lift on all its performance indicators – including a 75% increase in EBITDA – followed by a 25% year-on-year revenue increase in Q3 2024 compared with 2023.
