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Lime Looks to Build a Perpetual Scooter Fundraising Machine

  • Scooter startup names Ted Tobiason as chief financial officer
  • Former Google executive Nancy Lee is named as HR chief
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Why Bain Capital Is Investing in Scooter Startup Lime

In dozens of cities around the world, you seemingly can’t walk a couple blocks without stumbling over an electric scooter. Startups are looking to cover sidewalks with two-wheeled vehicles for rent using an app. This prospect, it turns out, is very expensive.

Lime, one of the largest scooter-rental companies, expects to overcome this hurdle by dialing up the speed on a strategy it already employs: raising capital from investors. Lots of it. That responsibility will now largely fall to Ted Tobiason, a private capital dealmaker from Morgan Stanley. Lime plans to announce Thursday that Tobiason will leave his post as a managing director at the bank to become the startup’s chief financial officer.