L-Etrik, Europe’s First Urban Electric Micro-Mobility Chain, Launches Equity Crowdfunding Round

The future of urban mobility travels electric, on two wheels and minicars. This is the bet of L-ETRIK, the new retail chain of electric vehicles for the city, owned by Metamobility Tech Srl.

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A chain of stores for urban mobility

The innovative startup already has 6 stores under its belt scattered between Milan, Rome, and Turin, in which the insignia NIU Store Italia, and Milano Elettrica have been combined.

To finance its growth in Italy and crown its ambition to become Europe’s leading premium multi-brand in its sector, L-ETRIK has just launched an equity crowdfunding campaign on the Mamacrowd platform, with the goal of raising €1 million.

Founded by Sino-Italian entrepreneur Francesco Zhou Fei, known for bringing single-brand Niu Stores to Italy (NIU is listed on the Nasdaq), Metamobility Tech ended 2022 with €2.75 million in revenues and positive EBITDA.

L-ETRIK growth plans

Now, with L-ETRIK, it is aiming to conquer the premium segment with the proposition of brands such as Silence, Horwin, Yadea, Askoll, and Vmoto Soco that will flank NIU.

The new chain is planning to open stores in Bologna, Florence, and other cities soon and, starting in 2024, will also combine its current retail business with the import and direct distribution of new brands not yet present in the Italian territory.

On the strength of a team with consolidated international experience in managerial and technological fields, Francesco Zhou has been successfully moving between China and Italy for 20 years in the consumer electronics and eco-friendly vehicle sectors.

“There is no doubt that within a very few years, electric will be the vehicle of excellence and perhaps the only one for cities,” said Francesco Zhou, “and small traditional cars will be increasingly replaced by minicars for city travel. We have the advantage of being among the first to have believed in a chain specializing in micro-electric mobility and we aim to become the largest European network of specialized retail.”

L-ETRIK was joined in the preparation and launch of this first campaign by Over Ventures, a company founded and led by Giancarlo Vergine one of Italy’s leading experts on equity crowdfunding and community funding, with over 150 successful campaigns to his credit.

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(Featured image by Mikes-Photography via Pixabay)

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