De Hoe Dennen Capital is leading a €24 million Series A investment in Netherlands-based scooter-sharing service Felyx.
The latest injection of capital brings the total raised by the four-year-old company to just over €28 million.
The company says it will use the funds to expand the business outside on its heartland of the Benelux countries to France and Germany.
The last round that Felyx received was a €3 million combination of debt financing and investment rounds in July 2018.
Anne-Marie Rakhorst, a entrepreneur focussing on sustainable investments who had previously backed the company, also participated in the latest round.
The expansion plans for Felyx will push it beyond its existing cities of Amsterdam, Rotterdam, The Hague, Eindhoven, Groningen, Delft, Haarlem, Den Bosch and Brussels.
It currently has around 3,000 scooters on its books, with 130 people on the team - a jump from 30 over the course of the last year.
Additional investment will be made in the company's technology and further additions to staff numbers.