San Francisco-based Lime, which operates an electric bike and scooter network, plans to name Uber as an anchor investor in its US initial public offering in an updated prospectus due on Monday, June 23, according to a source.

The source said Uber is expected to invest a “meaningful” amount as Lime targets about US$200 million at a roughly US$1.8 billion valuation.

The source also said Uber has guaranteed a US$115 million Lime loan due in September.

Lime’s May filing said IPO proceeds would fund operations, repay debt, and invest in or acquire complementary technologies, assets, or intellectual property.

The company reported 2025 revenue of about US$886.7 million, adjusted EBITDA of US$218.1 million, and free cash flow of US$103.8 million, despite a US$59.3 million net loss largely tied to non-cash fair-value changes in convertible notes.

Uber already backs Lime, which filed to go public in the US in May.

Trips booked through the Uber app generated 14.3% of Lime’s 2025 revenue under an integration agreement that runs through 2028.

If achieved, the reported IPO valuation would be below Lime’s peak private valuation of US$2.4 billion in 2019.

However, it would exceed the roughly US$510 million valuation associated with Lime’s 2020 funding round and its acquisition of Uber’s Jump business.

🔗 Source: Reuters

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