Lime
“Can Lime become the dominant, globally profitable shared micromobility platform by expanding city coverage and improving unit economics post-IPO?”
Founded2017
HQSan Francisco, CA, USA
FoundersToby Sun, Brad Bao
Total raised~$1.1B+ (pre-IPO)
Latest roundIPO, July 2026
Valuation$1.66B (IPO, July 2026)
IndustryMarketplace / Gig economy
The story
Founded in 2017 as a dockless bikeshare startup, Lime quickly pivoted to electric scooters during the micromobility boom of 2018–2019, reaching a $2.4B valuation at its Series D peak. The company navigated pandemic-era contraction and competitor consolidation before eventually going public on Nasdaq in July 2026 at a more modest $1.66B valuation, reflecting the sector's maturation and capital discipline. Lime's embedded finance stack is minimal and focused on identity verification (Persona for KYC/rider onboarding) rather than complex financial product issuance.
Last 12 months
Product timeline
2017
Founded as a dockless bikeshare company, quickly expanding into electric scooters.· pivot
2018
Raised Series B and began aggressive city-by-city e-scooter expansion globally.· banking
2019
Raised $310M Series D at $2.4B valuation, led by Bain Capital Ventures.· banking
2026
IPO on Nasdaq under ticker LIME, raising $167M at ~$1.66B valuation.· ipo
The stack
1 layer disclosed in Lime’s embedded-finance stack
KYC
Accounting gap: none