Micromobility aggregator app Cogo has raised €800,000 in funding to expand its services and further improve the shared mobility experience.
The Danish company helps users search for shared e-scooters, bikes, mopeds and cars, compare prices, and find the best option for their trip, all from one platform.
Some cities now host more than 20 different mobility operators, and 34% of users state the process to download, register or sign up for the relevant apps can be a barrier to use.
Cogo is looking to simplify this process by aggregating information and pricing on all available services to help riders make quicker decisions.
According to a survey conducted by Cogo, 84% said if they could have access to all the different operators in one place, then they would use shared mobility more.
“This new funding will be used to expand our market reach in Europe and drive user growth. It will also mean we can launch new features like an in-app payment solution so our users don’t have to switch apps,” Cogo’s Co-Founder and CEO Robin Eriksson told Zag Daily.
“Nearly 60% of our customers are returning users so they are coming back and appreciate the service we offer. The new payment solution will only improve the value that we bring to our customers as this is a feature that has been requested a lot.”
The company has to date raised a total of €1.9 million in two funding rounds. Last year, Cogo had 178,000 users, and by the end of this year, the company is on track to hit 600,000 users, so it is forecast to grow by over 300%.