Evaluating only Cooltra’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: Regulation.
Key Events Timeline
FOUNDING
Cooltra founded in Barcelona as motorcycle rental company, pivoting to shared mobility.
FUNDING
Raised €45M to expand shared scooter fleet across Southern European cities.
PIVOT
Post-COVID recovery slower than expected; Barcelona imposed new restrictions on tourism mobility operators.
SHUTDOWN
Entered administration in November 2023; 300+ employees affected across 10 cities.
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Documented cause
Barcelona-based Cooltra, Europe's largest shared motorcycle fleet operator with 15,000+ scooters across 10 cities, entered administration in November 2023 after its parent holding collapsed. The company had been backed by Northzone and raised €45M but post-COVID tourism revenue never recovered to pre-pandemic levels. Rising insurance costs and Barcelona's restrictions on tourist mobility operators proved fatal. Over 300 employees were affected.
Lesson
“Shared mobility dependent on tourism must diversify to commuter use cases before seasonal shocks occur.”