As the coast of insurance and repairs as well as the general needs of owning a car increase it can really become a problem. CityBee, a car-sharing startup company, wants to solve those problems for you by allowing you to rent a vehicle using their app, with a starting cost of €.14 per minute.
Founded in 2013, CityBee Solutions, which operates car-sharing services in Lithuania and Poland, has just received €110 million in investment from its owner, Modus Group. With the funding, the startup has announced an international tender to buy more than 5,000 new cars – five times more than the company’s current stock. The new cars will make CityBee one of the biggest car-sharing companies in Europe.
The car-sharing market is growing fast. In 2018 alone, CityBee’s customers made more than 1.2 million trips. And according to research by Berg Insight, by 2022 nearly 61 million people around the world will be using car sharing services.
The expansion of CityBee’s fleet will support the company’s plans to enter the Latvian and Estonian markets, to expand its services in Poland, and to renew and enlarge its existing fleet in Lithuania.
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