27 Aug Investment from Polar Light Capital fuels Scandinavian expansion
Polar Light Capital has invested in the Danish ridesharing startup, GoMore. The company has more than 170,000 members and their carpooling service now helps more than 15,000 travelers each month.
GoMore’s newest idea, the possibility of renting private cars, has also been well accepted among their customers and since its launch in January, GoMore has experienced double digit growth numbers each month. With this new initiative, GoMore lets private car owners better utilize their vehicle. When they are driving it they are able to share the ride with others and when they are not, the car can be rented out. With the investment from Polar Light Capital, GoMore has launched an expansion into both the Swedish and the Norwegian markets. GoMore has so far only introduced the Norwegians and Swedes to their carpooling service, but the option to rent private cars will be following soon.
We are very excited about our new investment. GoMore has a solid idea that draws upon inspiration from the trends of shared economy and social entrepreneurship. Both of these trends are on everyone’s lips at the moment and companies that are able to utilize these ideas will have a competitive advantage in the years to come.
We are confident that they will succeed in Sweden and Norway as well and we are looking forward to helping them grow their business to new heights.