11 Jul 22

SG Fleet invests in e-cargo bike business

Leasing company SG Fleet has announced an investment in Zoomo, the e-bike and e-cargo bike specialist, to help its last mile delivery customers transition to zero emission solutions.

SG Fleet, which bought the leasing businesses of LeasePlan in Australia and New Zealand and operates an international lease fleet of 250,000 vehicles, has become a strategic investor in Zoomo as part of a USD $20 million funding round.

Lincoln De Kalb, Group Product Development Manager, Future Mobility, SG Fleet, said: “Light electric vehicles are another tool companies can use on their path to reducing their transport carbon emissions. It doesn't always make sense to use a 1.5t vehicle for a particular journey if other cheaper and less carbon-intensive alternatives are available, such as e-bikes.”

The partnership will see SG Fleet offer its customers Zoomo e-bikes, backed by Zoomo’s maintenance network, while Zoomo will gain insights into fleet management.

In addition, SG Fleet is developing a novated lease product, similar to salary sacrifice, for the e-bikes.

International approach

The two companies will work together in the UK and Australia. Zoomo also operates in the US and continental Europe, and its vehicles are used by companies such as UberEats, JustEat, Deliveroo, Domino’s, Pizza Hut and Getir.

Mina Nada, Co-Founder and CEO, Zoomo, said: “We see immense potential in offering SG Fleet’s customers access to cleaner, more commercially viable solutions for last-mile delivery."

Authored by: Jonathan Manning