Electric scooter and bike rental company Lime plans to name Uber as an anchor investor in its upcoming U.S. initial public offering, according to reports.
Lime reportedly aims to raise around $200 million. The company seeks a valuation of approximately $1.8 billion.
Uber is already a key investor in Lime. It integrates Lime's services directly into its ride-hailing app.
Uber's participation as a lead investor is expected to bolster confidence for Lime's public debut. It further aligns the two companies strategically.
Reports indicate Uber guaranteed a $115 million loan for Lime. The loan is due in September. This strengthens Uber's financial backing of the micromobility firm.