Donkey Republic secures 5.5m euro from DGIF

Donkey Republic has announced that it has raised 5,5M EUR in asset backed financing from the Danish Green Investment Fund (DGIF). The investment will be used to co-finance its expansion to the entire Antwerp region, Belgium in 2022.

The loan from DGIF will finance the complete cost for the group’s new e-bikes which are to be deployed in Antwerp plus any further extension for the surrounding areas. Donkey Republic is covering the cost to ramp up the operation as well as the running cost.

Christian Dufft, CFO at Donkey Republic, said: “We are very excited to have DGIF as a financing partner as they share our high standards in regards to improving city transportation in a sustainable way. Also, this shows that financing bikes is an attractive option for large institutional investors such as DGIF.”

Michael Zöllner, managing director at the Danish Green Investment Fund, said: “The sustainable transition of our society requires action in all sectors and industries across the globe. How we enable people to choose a more sustainable alternative in their daily commuting and solve the problem with the last mile in bigger cities, is an important part of this transition. Therefore, we are pleased to fund Donkey Republic along their journey in scaling their sustainable solutions across Europe.”

Erdem Ovacik, CEO and Co-founder of Donkey Republic said: “In Donkey Republic, we are certain that cities and nations will increasingly and eventually make the most sensible decisions for social welfare. When it comes to urban mobility, what Donkey is offering is the best that a city can wish for: We provide a turn-key solution that is affordable, flexible and responsible.”