Scroll has attracted investment for the development of e-mobility in Ukraine and Georgia

Ministry of

FMO and Gazelle Finance announced the signing of a blended financing investment in Mercury LLC (Scroll & Qari Electric). The purpose of the financing is to support the Ukrainian operations of the company during war time, including retaining staff in Kyiv, the temporary relocation of some staff to Tbilisi, and the development of a proprietary software program.

Our mission is to further develop electric mobility through investment in Georgia and Ukraine, where the need for this is especially high today.

“With the generous support of Gazelle Finance, our company can continue to maintain our operations in Ukraine providing a much-needed transportation service to the people of Ukraine at a time of severe energy shortages”, said George Tugushi, CEO of Scroll and Qari Electric. “We are bullish on the long term prospects of the Ukraine market, so investing in the development of our own in-house technology using Ukrainian IT professionals will make us stronger in the long-run to scale our business when the market stabilizes.”

შპს მერკურიმ (Scroll & Qari Electric) მოიზიდა ინვესტიცია, რომელიც FMO-მ და Gazelle Finance-მა ერთობლივად განახორციელეს

In 2022, more than 50,000 Ukrainians have relocate to Georgia, many of whom are highly skilled professionals who work remotely for leading Ukrainian companies, particularly in the technology sector.

“This intervention provides Mercury LLC (Scroll & Qari Electric) with the necessary resources to not only retain Ukrainian staff, but also employ additional Ukrainian IT professionals during this difficult period for the country”. – said FMO Portfolio Manager Jeroen Harteveld.

“Even during war time, and the resulting energy crisis, Scroll continues to provide an environmentally friendly mass transportation solution to the citizens of Ukraine” said Jeffrey Liebert, CEO of Gazelle Finance.

Gazelle Finance is a financial company that invests in high-growth, small and medium-sized enterprises in the Eurasia Region, with current focus on Georgia and Armenia.