Mapon, a Riga, Latvia-based fleet management solution provider, has raised €3 million in funding through a bond issuance that attracted both private and institutional investors.
Mapon Use of Funds
The funding will be used to finance company acquisitions and further expand Mapon’s operations in Europe.
About Mapon
Founded by Ingus Rukis and Andris Dzudzilo, Mapon is a company that offers comprehensive fleet management and asset-tracking solutions in several European countries, including Latvia, Spain, Estonia, Finland, Lithuania, and Denmark. Their platform encompasses a wide array of features, such as GPS tracking, fuel control, route planning, temperature monitoring, security measures, tachograph data management, digital vehicle inspections, asset tracking, IoT integration, and video telematics, among others. Mapon is used by over 30,000 customers and has a network of partners across six continents.
Funding Details
Company: Mapon
Raised: €3.0M
Round: Bond
Funding Month: March 2024
Lead Investors:
Additional Investors:
Company Website: https://www.mapon.com/
Software Category: Fleet Management & Asset Tracking
Source: https://ain.capital/2024/03/11/mapon-raises-3m-european-expansion/