Adam Neumann brings CAR2GO’s shared car venture to Madrid

Adam Neumann brings CAR2GO’s shared car venture to Madrid
Adam Neumann brings CAR2GO’s shared car venture to Madrid

Three months after reporting on a $ 10 million fundraiser that also includes $ 10 million investment by entrepreneur Adam Neumann, the company announces a “soft launch” of a car-sharing venture in Spain.

GoTo Global, which operates in Europe and operates CAR2GO services in Israel, and Ototel announces a deepening of its operations in Spain upon its entry into Madrid through the launch of a “multimodel” project that brings together under one roof a variety of cooperative transportation services through one operator. GoTo subscribers will be able to enjoy for the first time in the world collaborative transportation services like bicycles, motorcycles, short-term and long-term car scooters under one app.

In the first phase, the company announced a “soft launch” of the project, with the entry of 130 shared vehicles in the “round trip” model, meaning that a vehicle is taken from a specific parking lot and returned to the same parking lot, in the city center. In the second phase, hundreds of electric vehicles are planned to be added to the project, with the prominent advantage that the vehicles can be parked in service in any parking lot in the city due to a government policy that encourages the use of electric vehicles, electric motorcycles and micro-mobility sharing tools including scooters and electric bicycles.

GoTo Global, which only about 3 months ago completed a successful round of recruitment, including investment by entrepreneur Adam Neumann, has been growing rapidly in recent years. In 2019 it made over 1.3 million trips and had a turnover of over $ 13 million. The company also has operations in Israel and Malta (a collaborative transportation system for vehicles and scooters), and intends to continue to expand its operations in Europe in the coming years.

Gil Laser CEO: GoTo Global “The alternative transportation market is booming unprecedentedly, especially since the outbreak of the corona which has significantly increased the potential for worldwide activity, given the fear of mobility in public transport and the trend of giving up private car use.

“The potential for activity in Spain in general and Madrid in particular, which is considered an advanced city in terms of shared transportation solutions, is great as the government encourages the use of shared transportation and allocates infrastructure accordingly and residents are accustomed to consuming smart transportation.”

Shirley Klush, VP of Global Business Development, GoTo Global: “GoTo Global is expected to bring Spaniards, in a big way, through an innovative solution that allows for the first time intelligent and efficient consumption of a variety of mobility solutions, under one application while fully tailoring to user needs.”

GoTo Global was established in 2008 under the CAR2GO brand, began its journey in collaboration with “round trip” car travel, and later expanded its portfolio of solutions, including micro-mobile services that include bicycles and shared motorcycles. The company, which employs 160 people, presented revenues in 2019 estimated at about $ 13.2 million.

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