MoovWay, a pioneer in electric urban mobility, opens its capital to MMC to accelerate its growth in e-commerce
MoovWay, a B2B2C designer and distributor of electric mobility vehicles, is writing a new page in its history by joining forces with the MMC Group, a pure player in digital web marketing and one of France’s leaders in mobile payment and monetisation. Founded in 2015 by two brothers, Gabriel and Anthony Taieb, MoovWay has quickly established itself as the key supplier to the retail sector. MoovWay has gained the trust of its customers thanks to excellent sourcing, avoiding the shortages that currently disrupt the market, a complete range of products (bikes, scooters, scooters, etc.) and competitive prices. The market, driven by consumer awareness of the impact of travel on the environment, has accelerated since the health crisis, with consumers seeking to avoid the crowdedness of public transport. MoovWay’s turnover has thus grown by 33% in 2021 to reach €30 million. In this context, MoovWay’s directors have chosen to strengthen these growth levers by activating the B2C digital component. To do so, Anthony and Gabriel Taieb mandated PAX Corporate Finance to find a solution that would coincide with their strategy. At the end of a process conducted during Covid, the merger with MMC was finally retained in order to capitalise on their digital know-how. MMC thus takes a 49% stake in MoovWay.