COFIDES supports REBY in its growth in Italy

COFIDES will support REBY, a company specialised in shared mobility, in its growth in Italy. To do so, COFIDES will provide a joint venture loan of 1.5 million euros charged to the Fund for SME Foreign Investment Operations (FONPYME). The total investment of this project is 4 million euros.

REBY is a company dedicated to the design and distribution of electric vehicles for shared use, offering environmentally friendly transport solutions. It operates in Spain and Italy, where it is present in 14 cities. The company will allocate COFIDES financing to the acquisition of electric motorcycles for use in five of the main Italian cities.

The company is characterised by the use of technology and investment in R&D, which have contributed to the company gaining a competitive advantage through innovation projects.

This project mainly contributes to the achievement of the following Sustainable Development Goals: SDG 8 - Decent work and economic growth; SDG 5 - Gender equality, and SDG 13 - Climate action.

FIRST COFIDES IMPACT PROJECT

This is the first operation to be formalised within the COFIDES Impact programme, which is part of the Plan for Recovery, Transformation, and Resilience Through this programme, financed by the European Union – Next GenerationEU, COFIDES supports investment projects that generate a positive impact towards the achievement of the SDGs. With COFIDES Impact, a bonus is provided through the variable sustainability component of the financing price, linking it to the achievement of certain sustainable indicators. In this case, the financing price bonus will be linked to obtaining and maintaining a quality certification.

In the words of José Luis Curbelo, chairman and CEO of COFIDES: "It is very satisfying to support companies that are committed to innovation in their business models with a clear objective of contributing to the decarbonisation of the economy and generating jobs in sectors linked to sustainability. We are confident that the new COFIDES Impact programme will encourage more Spanish companies to support the energy transition agenda with business models aligned with the Sustainable Development Goals in their overseas growth".

Pep Gómez, chairman of Reby, stated that "we are delighted to work with COFIDES. Their support will allow us to strengthen Reby's position in Italy, a very important market for us, where we are one of the leaders. There is no doubt that this financing will allow us to accelerate our growth in the market".

ABOUT REBY GLOBAL

Created in Barcelona in 2018, REBY Global S.L. is a technological company dedicated to the urban mobility sector. REBY designs, distributes, and operates electric vehicles such as motorcycles, bicycles, and scooters for shared use, with the aim of providing environmentally friendly transport solutions.

ABOUT COFIDES

COFIDES, a state-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).