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July 8, 2024

Mayten Acquires Denmark Based Shared Mobility Aggregator Cogo Mobility

Mayten Acquires Denmark Based Shared Mobility Aggregator Cogo Mobility

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Brussels, Belgium, July 9, 2024 – Mayten, a mobility technology company based in Brussels, has acquired all assets of Cogo, the Denmark-based shared mobility aggregator that helps users find and compare shared mobility offerings across 70 countries and 700 cities.

Cogo was launched in 2020 and quickly grew to become one of the leading shared mobility aggregators in Europe, with more than 300 operators on the platform. In early 2022, Cogo acquired its competitor eScoot, adding more users from Germany and France, which helped reach the milestone of one million users recently.

In addition to price comparison, Cogo also launched in-app rides, allowing users to rent scooters and bikes and pay directly in the app in select countries.

Cogo has raised €1.9m so far from PreSeed Ventures, Morph Capital, EIT Urban Mobility, and other investors since its inception, but had to file for bankruptcy recently.

Mayten has been actively looking at acquisition targets in the mobility sector, and with the acquisition of Cogo, Mayten expects to strengthen its offerings in mobility by building a suite of software and hardware solutions for shared mobility.

Prabin Joel Jones, Founder and CEO of Mayten, said: "Despite a slowdown in investments in shared mobility, we at Mayten remain optimistic about the future, with multiple signs of profitable shared mobility companies across the world. We are developing a comprehensive suite of software and hardware products to support shared mobility operators in achieving profitability. Our acquisition of Cogo will expedite our product development efforts, and we look forward to further enhancing and expanding Cogo's offerings."

About Mayten:

Headquartered in Brussels, Belgium, Mayten is a mobility technology company that helps shared mobility operators by providing custom software tools and hardware. In addition, Mayten is developing a comprehensive suite of solutions under the MobilityFabric brand, focused on shared mobility. Mayten also assists operators with market research through its OTD brand.

www.mayten.com

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