abrdn plc

03/14/2023 | Press release | Distributed by Public on 03/14/2023 06:24

abrdn provides financing to Dott to accelerate growth plans

abrdn has provided €10 million private credit financing to Dott, a leading European micro-mobility company that operates shared e-scooters and e-bikes in cities across Europe. The direct financing has been provided by the abrdn Global Private Markets Fund (GPMF) and will allow Dott to further its expansion.

The micro-mobility sector has grown significantly in recent years and this growth is expected to continue as cities increasingly seek to encourage a shift from cars to more sustainable transport. Dott has responded to this trend with a disciplined and strategic approach to growth and today, is one of the dominant micro-mobility providers. Supported by teams of in-house specialists, Dott maintains control of the user experience to ensure its services are always available, reliable, affordable and safe. The team at Dott work closely with local authorities to ensure that its bikes and scooters are responsibly integrated to meet the needs of each city, becoming part of the local transport network to provide a safe and inclusive service.

Nalaka De Silva, Head of Private Markets Solutions, abrdn said: "The rise of e-scooters and e-bikes around cities worldwide is vital in the effort to reduce carbon emissions. The microbility market in Europe is expected to increase vastly by 2030 as cities gear up to meeting sustainability targets. Investment in these ecosystems and infrastructure is crucial in meeting these objectives.

Dott is playing an important role in helping to build a greener future and with sustainability being one of the key themes that underpins the investment approach of GPMF, we are excited to be part of this journey."

The transaction was led by the abrdn Private Market Solutions team, who manage multi-asset portfolios focusing on private markets- spanning private equity, infrastructure, real estate, private credit and natural resources. GPMF was launched in January 2018 and today, has over £320m* assets under management on behalf of institutional and wholesale investors globally. The Fund aims to enable investors to access private markets.

*(as at 31 December 2022)