Zoomo and SG Fleet announced the benefits and business opportunities that will be made available through their partnership. The announcement supports Zoomo's mission to put more light electric vehicles on their roads with the support of SG Fleet's expansive network and industry expertise. Zoomo's recent $20 million addition to its Series B funding round saw SG Fleet join as a new strategic investor. Both Zoomo and SG Fleet share a similar vision of providing efficient and sustainable vehicles to help individuals and businesses reduce the impact of their emissions on the environment. Customer conversations regarding light electric vehicles are increasing as organizations explore different mobility options. This trend underscores the business opportunity for sustainable vehicles in fleets. The partnership will see a number of beneficial initiatives implemented across Australia and the United Kingdom. The partnership with Zoomo and SG Fleet will enable fleets to expand and electrify in the parcel delivery segment.
Specifically, Zoomo and SG Fleet are partnering on a go-to-market strategy that will see Zoomo e-bikes offered to SG Fleet's existing customer base to further broaden its range of electric solutions. This is particularly appealing to customers seeking more sustainable, commercially viable solutions for increasingly critical last-mile deliveries.
Furthermore, the partnership offers collaborative R&D opportunities for both parties. Zoomo will gain insights into fleet management knowledge and processes, while SG Fleet will benefit from Zoomo's expertise in e-bike management and access to their network of maintenance suppliers. With over 30 years of experience, SG Fleet boasts an impressive customer base, including Government, Corporate and University Campus customers. Through the partnership, SG Fleet will enable Zoomo to offer its fleet of e-bikes via novated leasing or salary packaging schemes. These financial arrangements deduct lease payments for a vehicle from pre-tax salaries to provide a significant tax benefit to employees of participating companies. By entering this highly attractive market, Zoomo further makes e-bikes more accessible to all.