Beltone Venture Capital expands its footprint in Europe and North Africa through a strategic equity investment in VelyVelo
Summary
Cairo: Beltone Holding ("Beltone" or "the Company"), one of the fastest-growing financial institutions, has announced that its fully owned subsidiary, Beltone Venture Capital (BVC), has successfully completed its first international investment through a strategic investment in VelyVelo, a leading French e-bike rental company, specializes in optimizing e-bike fleet management through a full-service subscription and an all-in-one technology platform. The investment aims to support VelyVelos expansion across the Middle East and North Africa (MENA), bringing innovative and sustainable mobility solutions to new markets.Operating over 5,000 electric bicycles, VelyVelo offers rental services to delivery drivers, freelancers, transport companies, and artisans. It is currently available 24/7 and active in the French and Moroccan markets, with plans to expand into Spain and Belgium.Ali Mokhtar, CEO of Beltone Venture Capital expressed his excitement, stating: "We are excited to partner with VelyVelo, a company redefining urban mobility in North Africa and Europe. These include Bosta, ariika, Sylndr, WayUp Sports, Lychee, SehaTech and Birdnest demonstrating its continued support for emerging enterprises and innovative initiatives. The company has an ambitious vision to revolutionize the financial sector in the region, leveraging the global expertise and knowledge of its team to provide innovative, value-added solutions, create additional opportunities for its clients, enhance market value, and achieve impactful results.