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Lime secures $523 million in latest funding round

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Lime has secured $523 million of convertible debt and term loan financing after a funding round involving ADG, Fidelity, Highbridge, and Uber.

The micromobility operator raised $418 million in convertible debt, in addition to a $105 million senior secured term loan facility from the private credit group at UBS O’Connor.

With a presence in more than 200 cities around the world, Lime will use the funding to further expand its services and scale the Gen4 e-bike and e-scooter.

The firm topped 250 million rides this summer, with permits now in London, Paris, New York, and San Francisco.

Lime possesses a global fleet of more than 200,000 micromobility devices, while it recently saw its emissions goal accredited by the Science Based Targets Initiative.

“This oversubscribed round is a testament to the strong business we’ve built and the overwhelming confidence we’ve received from the financial community,” said Lime CEO Wayne Ting.

“This investment will allow us to double down on our newest generation of e-bikes and e-scooters, as well as additional modes, to ensure people have reliable access to affordable, shared, carbon-free transportation.”

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