Scooter sharing startups Vogo, Bounce raise debt from BAC
Both the firms will primarily use the debt to finance scooters and hardware
Financing a scooter, which on average costs about Rs 65,000, is the most capital-intensive part of Vogo and Bounce’s business, and the largest barrier to scale. In an emailed response to ET, Bansal said these are just treasury operations of his new company floated in December. Bounce and Vogo declined to comment.
Talks have materialised at a time when homegrown ride-hailing company Ola said it will finance 100,000 scooters (worth $100 million) for Vogo in a bid to help expand supply of vehicles, and signalling the company’s interest the two-wheeler market.