European micro-mobility startup Dott is about to raise a $34 million Series A round (€30 million). Compared to many scooter companies out there, the startup is taking a careful approach when it comes to growth in order to build a good reputation and a sustainable service.

EQT Ventures and Naspers are leading today’s found. Existing investors Axel Springer Digital Ventures, DN Capital, Felix Capital, FJ Labs and U-Start Club are also investing again.

Dott had previously raised a $23 million round (€20 million) from EQT Ventures, Naspers and others.

Some scooter startups are aggressively expanding in dozens of cities. They’re often buying a ton of scooters and putting them on the streets without thinking about a long term plan.

Dott has made many promises ticking all the right boxes to go against this “move fast, break things” motto. The company works with local governments to get approval.

It then rolls out a reasonable fleet of scooters. Dott is currently live in Brussels, Paris, Lyon and Milan. The company has around 1,000 to 2,500 scooters per city.

The company has its own warehouses to charge and repair vehicles. There’s no juicer who collect scooters at night and charge them at home. Dott hires full-time employees and works with third-party logistics providers.

Scooters are also supposed to be sturdier thanks to a dual brake system and bigger wheels. Every part is supposed to be replaceable.

And the company is now going one step further by including insurance coverage for no extra cost. Dott is partnering with Zego and La Parisienne Assurances to cover personal injuries and third-party liability in France, Belgium and soon Italy.

Up next, Dott plans to release a second generation of scooter with swappable batteries, which should make fleet management much easier. And the company is already working on a third generation of vehicles.

Dott also plans to launch a new type of vehicles, e-bikes. They aren’t ready for prime time yet — they will be produced in Europe and China, and assembled in France. And of course, the company plans to gradually expand to new cities in Germany, the U.K. and Netherlands.

Now let’s see if Dott can keep all its promises as it scales around Europe. Taking a sustainable approach will require a ton of capital. Dott is betting that other scooter companies will crash before Dott runs out of cash.

And it’s clear that many scooter companies didn’t realize how brutal the scooter market could be. Les Echos reported earlier this week that Bolt, Wind, Hive, Ufo, Voi and Tier had all halted their services in Paris.

Lime, Bird, Circ, Dott, Jump and B-Mobility are still around, but I’m sure there will be more consolidation over the next 12 months.

Source: Tech Crunch Startups | Dott raises million to build a sustainable scooter startup

French startup Shine is launching two new features today — Shine Premium, a premium account with basic insurance coverage for freelancers, and support for more types of companies using Shine Start.

Shine is building an alternative to traditional bank accounts for freelancers. In addition to bank information and a payment card, users can register a “micro-company” to start accepting freelancing jobs, create invoices, export transactions for taxes, etc.

The startup thinks that it is an underserved market even though it can get complicated really quickly when you start freelancing. The app tries to remind you when you’re supposed to pay taxes for instance.

Basic accounts currently cost €4.90 to €7.90 per month depending on your incorporation. But the company is adding a new premium tier called Shine Premium.

In addition to everything you get in the basic plan, Shine offers you insurance coverage in case you end up in a hospital. You can claim up to €100 per day. Shine also covers your equipment, and particularly broken smartphone screens. As a premium user, you can also access better support and a better knowledge base.

This product could be particularly attractive for users who work for Deliveroo, Uber Eats and other food delivery companies. As Libération recently reported, many people riding bikes all day long to deliver food end up in a hospital. They simply don’t have time to be cautious.

If you’re not already a freelancer, Shine can help you register your company and get started. For €34.90, the company handles the paperwork for you and you get an “auto-entrepreneur” certificate. Shine is expanding that service to other types of companies.

After you reach the limit of the basic “auto-entrepreneur” company, you need to switch to a more sophisticated type of companies with initial capital, more legal constraints, etc.

In other words, you need a true accountant. For €119, you can register an EURL, SASU or EI and get a certificate of incorporation. Shine then recommends you accountants who can take care of the legal paperwork for you going forward.

As you can see, Shine is gradually adding more features to turn its service into a one-stop shop for all your freelancing admin needs.

Source: Tech Crunch Startups | Shine adds premium accounts to its bank for freelancers

P.F.C. (Personal Finance Co.), a so-called “neobank” founded in Sweden, has raised €5 million in funding. Backing the young company is Nordea, the largest bank in the Nordics region.

In other words, chalk this up as another example of an incumbent bank placing financial and strategic bets on a fintech upstart, even if it doesn’t always end as the parties involved planned.

Nordea is present in 20 countries, including having a stronghold in Denmark, Finland, Norway and Sweden. Also targeting the Nordics, P.F.C. is tiny in comparison. The neobank says it hopes to get to 100,000 users by the end of the year.

Described as a personal finance app and accompanying debit card, P.F.C. is regulated under a payments institution license rather than being a fully-licensed bank. It’s the same lighter touch model that Revolut and a plethora of other banking apps choose, before in some instances applying for a bank license so they can begin doing more risky regulated activities: namely lending out deposits in the form of overdrafts and loans.

P.F.C.’s features include being able to instantly top up your account/card using Swish (a mobile payment technology provided by a group of Swedish banks), the ability to set a weekly budget, and automatic transaction categorisation.

In addition, you can freeze, unfreeze, change your pin and order a new card directly within the P.F.C. app. You also have the option to receive a push notification after each purchase with your updated balance.

It’s a travel card, too: P.F.C. says there are no additional fees for purchases and ATM withdrawals abroad.

Other soon-to-launch features include the ability for friends and partners to share expenses and settle debts, and personalised savings and credit products with “transparent pricing”.

“There’s an opportunity in the market for companies that personalize financial services,” says Eli Daniel Keren, founder and CEO of P.F.C., in a statement. “We provide a personal, transparent and simple banking experience for our customers”.

Adds Ewan Macleod, Chief Digital Officer at Nordea: “We are delighted to have P.F.C. in our portfolio as it provides a personalized digital solution for customers. We see the investment as a great opportunity for us to team up and support P.F.C. in their growth”.

Source: Tech Crunch Startups | Swedish ‘neobank’ P.F.C. picks up €5M backing from Nordic banking giant Nordea