LegalVision advises OneVentures on its venture debt investment in Zoomo

LegalVision has advised OneVentures on its venture debt investment in Zoomo, formerly Bolt Bikes. The venture debt investment by OneVentures and Viola Credit was taken in conjunction with a $16M equity round that was led by the Australian Clean Energy Finance Corporation. 

Zoomo is an Australian startup that sells and rents electric bikes on a subscription basis. The micromobility company has operations in Australia, the U.K, New York and soon in Los Angeles. The capital injection will fuel the growth of its subscription offering, including adding physical sales and service centres worldwide. The startup is also expanding into new categories, such as parcel, mail and grocery deliveries.

The LegalVision team was led by Jill McKnight (Practice Leader), who was supported by Madeleine Hunt (Senior Lawyer). LegalVision advised on all Australian legal aspects of the OneVentures investment.

“As cities around the world are now accelerating their investment in making roads safer for cyclists, Zoomo is well-placed to continue building their brand and establish themselves as world-class e-bike leaders. It was a pleasure to assist OneVentures with their investment during such economic uncertainty. Their support behind fast growing tech companies ensures that Australia’s innovation remains competitive,” said Ms McKnight.

“Zoomo’s rapid growth in the competitive last-mile delivery space is a testament to their innovative business model. The mobility sector is undergoing significant transformation globally right now. Zoomo has seized on this opportunity and their business metrics speak for themselves” said Nick Gainsley at OneVentures.

“Jill and the LegalVision team have been a pleasure to work with. They have great venture debt expertise and have a wealth of experience in the technology start-up/scale-up space.”