Swedish shared micromobility company Voi Technology has raised €40m through a new bond issuance, strengthening its finances for further expansion. This is the company's second major bond raise, after it first secured €50m in late 2024,  bringing the total bond financing to €90m under its €125m framework.

The latest bond was priced at 104.75% of its nominal value. It carries a floating interest rate of three-month EURIBOR (a European benchmark rate) plus 6.75% interest per year.

According to Voi, the issue attracted strong demand from Nordic and European institutional investors and was significantly oversubscribed, which signals growing investor confidence in Voi's business model and its path to full-year profitability.

Mathias Hermansson, CFO and deputy CEO of Voi, commented on the latest fundraise, stating, “We have executed well on the back of the proceeds from the inaugural bond issue almost a year ago, and we are now active in the debt capital markets as a proven borrower.”

This vote of confidence is well-timed. The company recently reported a strong second quarter, as shown in our Q2 analysis.. The key numbers include:

• Revenue grew 29% year-over-year to €46.8m.
• Rides surged by 55% to over 31m.
• The company achieved an EBIT of €1.4m.

Voi’s improving fundamentals are also reflected in its valuation. Major investor VNV Global has marked up Voi's valuation for five consecutive quarters, pushing it to $611.4m in June 2025, a 26% increase since December 2024.

Voi has stated that the net proceeds from the €40m bond will be used to expand its fleet of e-scooters and e-bikes in 2026. This expansion will support its broader growth strategy, which also includes its recent contract win in Paris, where it was selected to deploy 6k e-bikes. The Paris contract, which is the largest in Voi's history, began operations on October 1, 2025. The company has projected that the Paris operation could generate "double-digit millions" in annual revenue. Voi has committed to increasing its fleet to up to 150k vehicles by the end of 2025, and the latest fundraising will help achieve this target.

The bond issuance is expected to be completed around October 17, 2025.

Fredrik Hjelm, co-founder and CEO of Voi, linked the financing to the company's strategic goals, saying,

“Securing this bond financing comes at a pivotal moment in Europe’s green transition... we are ready to help more people make the shift to shared, clean transport - and to play a leading role in shaping the future of urban mobility across Europe.”

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