Volt Lines received an investment of two million Turkish Liras from Hedef Filo and Dubai-based VC-firm MEVP. Ömer Erkmen and Ali Çebi also joined as angel investors in this funding round. Established in October 2017, Volt Lines increased its capital to 2.4 million Turkish Liras.
Volt Lines raised two million TL in a funding round in May 2018. The startup will announce closing of another funding round in a few weeks. With this funding round, Volt Lines will increase the sales team size by three times, expand the operations and make more investments on R&D and technology.
Volt Lines is a subscription-based transportation service digitalizing employee transport with the latest technologies. Instead of annual agreement for fixed route shuttle services, Volt Lines sells its services via subscription model based on the required number of seats. For a company with 100 employees, 100 seats can be rented on a monthly subscription basis. Volt Lines buses are shared with neighboring companies, especially to companies in same business center. The companies save money through this shared service approach.
MEVP is a leading MENA region focused venture capital firm that invests in the early and growth stages of innovative companies in the Middle East & North Africa. With more than USD 220 million in assets under management and another USD 100 million in co-investments, MEVP funds technology startups. To date, MEVP’s team, comprised of 23 investment professionals, have invested in more than 40 portfolio companies across MENA and Turkey.