Rabbit Mobility has announced a $1.3 million investment round to fuel rapid growth of its micromobility platform across Egypt and other North African markets. A group of angel investors and experts in sustainable mobility also contributed to the round. “We believe in Rabbit Mobility’s innovative approach and commitment to sustainable transportation,” said Amal Dokhan, Managing Partner at 500 Global. “We are excited to support their growth and contribute to the development of the micromobility ecosystem in Africa.”Kamal told Zag that Rabbit Mobility is poised to achieve profitability by the end of the year. “In Sep 2024, Rabbit achieved a net profit/loss margin of -5%.

Source: The North Africa Journal October 15, 2024 10:43 UTC