Ashurst advises Pony and Smart Lenders AM on the financing of a fleet of self-service bicycles and scooters

Ashurst has advised Pony and Smart Lenders AM on a €10 million structured financing package, through the investment vehicle The Lending Smart Fund 1, to finance the deployment of its fleets of bicycles and scooters in France and Europe.

With this financing, Pony plans to produce more than 6,000 bikes over the next two years for no less than 1.2 million inhabitants of medium-sized French towns.

Agathe Motte, Structured Finance Partner, comments: “This innovative and totally ad hoc financing owes a great deal to the spirit of partnership and capacity for innovation shown by the parties involved. Smart Lenders' in-depth understanding of Pony's business and knowledge of this ecosystem, coupled with the incredible spirit of innovation and excellent management by the Pony team, enabled us to put in place a highly efficient asset-back financing structure, whose very specific collateral characteristics shaped the contours of a totally tailor-made financing structure.”

Ashurst was delighted to advise Pony and Smart Lenders AM on this transaction. The team was led by Agathe Motte (Structured Finance Partner), supported by Aurélien Fournier (Counsel) and Lucien Jarry (Associate), as well as by the Corporate team comprising François Hellot (Partner) and Jordan Ohayon (Associate).