Electric bike and scooter rental company Lime, known formally as Neutron Holdings Inc., has filed for an initial public offering (IPO). The company aims to raise about $200 million at a valuation of approximately $1.8 billion. This move comes as Lime reported $886.7 million in revenue for 2025, up from $686.6 million in 2024, though it also had a net loss of $59.3 million in 2025, compared to $33.9 million in 2024.
Uber Technologies Inc., a long-time backer of Lime, is expected to be named as an anchor investor in the IPO, indicating its continued support and aiming to boost investor confidence. Uber has also guaranteed a $115 million Lime loan due in September. The decision to name Uber as an anchor investor serves to reassure potential public market investors, especially given Lime's significant current liabilities of $1 billion, with $675.8 million due by the end of 2026. The $200 million IPO proceeds would cover less than a third of these near-term obligations.
Lime plans to begin investor presentations and a roadshow this week as part of its efforts to secure the targeted funding. The proceeds from the IPO are intended to fund operations, repay all existing debt, and facilitate investments or acquisitions of complementary technologies, assets, or intellectual property. The company's S-1 filing with the SEC was made on May 8, 2026, and an updated prospectus naming Uber as an anchor investor is expected to be filed soon.
