Astara signs a strategic investment agreement with GoTo

Astara signs a strategic investment agreement with GoTo

Astara has signed a strategic investment agreement with GoTo Global, an international multimodal shared mobility company. This investment comes as part of a pre-IPO Round and will see ASTARA invest $5 million in the company. This follows an investment of $6M that could raised from its existing investors.

GoTo, which currently operates in Israel, Germany, Spain and Malta, offers users an array of vehicles – including cars, bikes, electric scooters and mopeds – via a single app. To date, GoTo’s 5,800 vehicles have been accessed by over 450,000 users, with nearly 3 million rides and $22 million in revenues reported in 2021.

ASTARA is one of the largest automotive mobility groups in the world, present in three continents, 16 countries, with over 200,000 vehicle sales per year and hitting an annual turnover in 2021 of €4 billion. Having international expertise and a broad understanding of the mobility sector, ASTARA delivers innovative tailor-made solutions for every brand and market by addressing major technology shifts and the changing mobility needs, where customers can access any kind of affordable and sustainable transport solutions. It offers a diversified portfolio of mobility products and services as ownership, subscription, B2B/B2C, and new digital channels.

The companies recognize that the shift towards shared mobility is well underway with many cities across the globe recognizing the economic, environmental and social benefits. The shared mobility market is in fact expected to grow rapidly over the coming years, reaching an estimated $675B by 2025. Europe will account for 20% of this market and GoTo is well positioned to seize on this opportunity with its shared multimodal mobility offering.

It is with great satisfaction that ASTARA signs a strategic investment agreement with a leading company like GoTo. It will undoubtedly increase the scope of our business in today’s highly competitive market. With the contribution of our extensive experience in digital transformation and the new mobility ecosystem, we are attached to drive long-term growth. Recognizing the global trend towards a more customer-led economy in the current digital environment, we are committed to pursuing new business ventures resulting from this unique scenario.

Jorge Navea, CEO of ASTARA

Today is big step on our journey to making shared multimodal mobility accessible to all. The arrival of a group with the scale, experience, and track record of ASTARA as an investor in GoTo really demonstrates that we are on the right road. Automotive players are acknowledging the changing needs and wants of users and are looking to be part of this change. At GoTo we continue to evolve our offering, allowing more and more users to access the right vehicle at the right time – be it a car, a moped or a bike or kickscooter. We put the user in control. This investment brings us closer to completing our planned merger and to converting GoTo into a public company.

Gil Laser, GoTo’s CEO

This investment is part of the Pre-IPO round which GoTo Global is raising following its announcement of a planned merger with NeraTech Media, a company traded at the Tel Aviv Stock Exchange. It's an expression of the mobility giant’s confidence in GoTo Global’s ASTARA believes in GoTo’s technology, customer proposition and it’s international expansion potential. ASTARA will join an international group of GoTo Global’s existing shareholders: DBSI Group, led by Yossi Ben Shalom via Shagrir (Israel); Adam Neumann’s family office Nazare Capital Management (US); the Ungar Family, one of Israel’s leading automotive importers; DQuadrat Equity Partner (Germany); IBB Ventures (Germany); and Bonventure (Germany).  

Last October, GoTo Global acquired Emmy, the leading German moped sharing company, present in Berlin, Hamburg and Munich, with over 300,000 users and 3,000 mopeds. Following the completion of the merger with Neratech, GoTo Global plans to bring its multimodal offering to these German cities – adding cars and micromobility vehicles to the mix. Furthermore, the company also plans to increase its B2B activity along with launching other innovative product solutions.