Greenriders Group
E-Mobility, 2020-2021

PatCom group is the French leader in electric mobility sales and services. Since 2018, Sena Adjovi, founder of the group, has been developing service bricks to meet all the needs around soft mobility, from the sale of electric scooters and scooters to battery reconditioning.

Initially mandated for an initial fundraising, we accompanied the group from 2019 to 2022 on 4 successive transactions.

Beyond a strong entrepreneurial adventure, these three years of support have enabled us to build a relationship of mutual trust that has gone far beyond the initial framework of the mission. Sena’s vision, enthusiasm and dynamism immediately drew us into the frantic pace of its growth projects!

Why did you choose Further ?

At the time [in 2019] Further was one of the only advisors to understand my problem and my vision of a 360° e-mobillity company. Camille, Gabriel and Anthony helped me beyond the capital operations to structure the group internally and to find the right operational and legal partners.

Further was initially mandated to raise funds, instead we made first, one acquisition, then a Series A and two new acquisitions.

How did your capital operations go?

All the operations undertaken have been completed and this is partly due to the availability of Further. They have been responsive and supportive in the emotional lift that 4 successive operations can represent.

This is also the particularity of Further, this agility to adapt outside the framework of the mandate in order to stick to the present reality of the company and to carry out the right operation at the right time. The team knows how to find solutions outside the box.

What have you gained by teaming up with Further?

Thanks to Further, Greenriders group is where it is today. I didn’t have the keys to talk to investment funds, I didn’t go to business school and I wasn’t immersed in the world of accelerators and start-ups. I had to show my credentials, and I think Further helped me learn about these subjects, and allowed me to structure myself to achieve my goals.

One of the strengths of this team is connecting the right people and finding opportunities. Further has been part of the internal adventure of the group through his involvement.

I think we all learned a lot from the exchange on the different operations, through the challenges of certain situations and the solutions we were able to find by all sitting around the table.

Do you have a word for other entrepreneurs who are wondering if they need to be accompanied?

Before you start: think carefully about your project and your personal vision. Then, you need to have a real discussion with your advisor to deploy your strategy. Having an advisor is essential for me, without Further I wouldn’t have been able to manage these three acquisitions and their integration. I needed someone by my side. I had a vision for e-mobility but not the means to deploy it.

You can have the most beautiful ideas in the world, but if you don’t have the right partner you can’t succeed. The investment bank is also a person who shares his experience and gives an opinion from a distance. They are not involved in day-to-day operations and can help you to see things from a different perspective. It is also their advice that helps situations to unblock.

What next ?

We still have a lot of projects, we now know that we have the potential to become a reference platform for mobility. We will first finish structuring the group and then we will continue to add bricks around what we already offer and open up new international markets.

There is plenty to address in our market and we hope to keep up the momentum!