Rabbit Mobility in Egypt gets $1.3m in funding

Egypt's leading micro-mobility platform, secured the funding to accelerate its growth and expand its fleet of electric scooters and bikes. This injection of capital, led by 500 Global and Untapped Global, signals a strong vote of confidence in their business model and growth potential.

• Rabbit offers both short-term rentals ("Unlock & Go") and longer-term rentals ("Day Rentals"), catering to diverse consumer needs and so far has 450,000 users and achieved over a million rides.

• Their "Day Rentals" model has been particularly successful with women, who make up 55% of its users.

More details

• Rabbit Mobility aims to succeed where others like Bird have faltered, and they seem to be on the right track, targeting profitability by the end of the year. 

• It plans to use the new funding to expand its operations and fleet across Egypt and potentially into other North African markets.

Our take

• It will be interesting to see how Rabbit Mobility meets the demand for convenient urban transportation in Egypt's congested cities, particularly Cairo and Alexandria.