SG Fleet expands focus on mobility solutions with Collaborate investment
SG Fleet has bought a AU$2.2m stake (€1.35m) in Collaborate Corporation as it furthers its work on mobility solutions.
Collaborate operates a number of different sharing economy-based operations, including among mobility; its core businesses are the ‘Carly’ car subscription service and a range of peer-to-peer vehicle rental offerings.
The new deal will see SG Fleet provide vehicles to Collaborate to facilitate further growth within the Carly business, subject to demand and economic returns.
The deal builds on SG Fleet’s strong presence in Australia, as well as in the UK, in the emerging mobility solutions segment. Its products include vehicle sharing solutions and mobility consulting services to companies moving towards an integrated, multi-model approach for their employees; in total it operates 140,000 vehicles across the UK, New Zealand and Australia.
SG Fleet’s chief executive officer, Robbie Blau, commented: “We are constantly introducing new, high value-add solutions to both corporate customers and consumers to cater for their rapidly evolving mobility requirements. Our investment in Collaborate further strengthens our ability to widen our offering as demand for greater transport efficiency and flexibility intensifies. This complements our current core business activities and opens up additional revenue growth avenues.”