Beltone Holding, one of the fastest-growing financial institutions in the region, has announced that its subsidiary, Beltone Venture Capital (BVC), has completed its first international investment. BVC has made a strategic investment in VelyVelo, a French e-bike rental company known for its innovative approach to e-bike fleet management. The investment aims to support VelyVelo’s expansion into the Middle East and North Africa (MENA) region, bringing sustainable urban mobility solutions to new markets. VelyVelo, which operates over 5,000 electric bicycles, offers rental services to a range of users, including delivery drivers, freelancers, transport companies, and artisans. The company currently operates 24/7 in both France and Morocco and has plans to expand its services to Spain and Belgium in the near future. Ali Mokhtar, CEO of BVC, expressed his enthusiasm about the new partnership. “We are excited to partner with VelyVelo, a company redefining urban mobility in North Africa and Europe,” said Mokhtar. “Through this strategic equity investment, we are committed to working hand in hand with VelyVelo to accelerate its expansion across the MENA region through Beltone’s support and bring innovative, sustainable mobility solutions to new markets.” VelyVelo’s CEO and co-founder,…
Egypt’s Beltone Venture Capital Makes First International Investment in French Company VelyVelo
October 1, 2024
