Returning investor RATP Capital Innovation and long-term insurer Allianz France both participated as the moped rental platform raised $25.5m.

France-based electric moped rental platform CityScoot secured €23.6m ($25.5m) in equity funding from investors including insurance provider Allianz France and public transport operator RATP Group on Monday.

Growth equity firm Demeter also participated, as did Banque des Territoires, which is overseen by the French government-owned Caisse des Dépôts et Consignations, while RATP Group participated through subsidiary RATP Capital Innovation.

CityScoot runs an app-based service that allows users in the cities of Paris and Nice in France, and Milan and Rome…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.