Beltone Holding, one of the rapidly expanding financial institutions, has announced that its wholly owned subsidiary, Beltone Venture Capital, has successfully concluded its first international investment by strategically investing in VelyVelo, a prominent French e-bike rental company specializing in optimizing e-bike fleet management through a comprehensive subscription service and an all-in-one technology platform, Invest-Gate reports.

The investment is intended to bolster VelyVelo’s expansion throughout the Middle East and North Africa (MENA) region, introducing innovative and sustainable mobility solutions to fresh markets.

With a fleet of over 5,000 electric bicycles, VelyVelo provides rental services to delivery drivers, freelancers, transport companies, and artisans. The service is operational 24/7 and currently active in the French and Moroccan markets, with plans for further expansion into Spain and Belgium.

Ali Mokhtar, CEO of Beltone Venture Capital, expressed his enthusiasm, stating, “We are thrilled to collaborate with VelyVelo, a company that is reshaping urban mobility in North Africa and Europe. Through this strategic equity investment, we are dedicated to partnering closely with VelyVelo to expedite its MENA region expansion with the support of Beltone, introducing inventive and sustainable mobility solutions to new territories.”

Asmaa Chakir Alaoui, CEO and Co-founder of VelyVelo, remarked, “As VelyVelo continues to spearhead the global transformation in urban mobility, we take pride in being genuine trailblazers. Following our successful ventures in Europe and Morocco, the MENA region stands as our next frontier. To propel this growth, we welcome Beltone as a strategic investor to facilitate the introduction of sustainable mobility solutions into untapped markets.”