Lithuanian car-sharing company CityBee Solutions has secured 110 million euros ($124.2 million) from car rental to real estate company Modus Group.
With this capital raised, CityBee will expand its fleet with 5000 new cars making it one of the biggest car-sharing companies in Europe.
More so, CityBee plans to enter the Latvian and Estonian markets while boosting its services in Poland and to renew and enlarge its existing fleet in Lithuania.
CityBee intends to select the best tender offers and sign agreements with the winners in February and plans to acquire all 5,360 vehicles during 2019.