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April 11, 2023
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1 min

Forbes Spain: Avenidas Successfully Closed a New Investment Round Led by Khola

The Portuguese mobility startup Avenidas has successfully closed a new investment round led by Khola, an investment company headed by Gonçalo Sequeira Braga.

The operation has reached 100,000 euros and aims to boost the launch of its new commercial brand: Swingo. This business branch focuses on mobility related to the tourism sector, including services such as private transportation, airport transfers, and city tours.

The entry of the new partner will accelerate the company's growth. Avenidas, which started in 2016 with just one vehicle dedicated to mobility services, now boasts a fleet of over seventy vehicles (including cars and motorcycles) and nearly two hundred employees. Additionally, the company operates in four business areas: Fleet Management, Tourism, Heavy Transport, and Last-Mile Deliveries.

The received investment will be used to increase Swingo's operational capacity, enhance the company's digital transformation and marketing efforts, and electrify the fleet.

"The pandemic has accentuated a trend that was already growing - personalised transportation services and direct delivery of goods to consumers. In recent months, we have witnessed the development and evolution of this market. When this challenge arose, we saw it as an opportunity to diversify our investment portfolio and enter a growing market," said investor Gonçalo Sequeira Braga, emphasising the importance of trust with Avenidas' partners in deciding to support their new venture.

The company highlights that during a period of economic recovery, it managed to triple its revenue in 2022. However, in the next two years, the company aims to exceed ten million euros in revenue. Their goal is to become the largest Fleet Manager in Portugal, both in terms of vehicles and motorcycles, while maintaining their commitment to promoting a sustainable economy and mobility.

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