Lime raises $523 million

San Francisco-based bike-sharing platform Lime raised $523 million in convertible debt and term loan financing as the company prepares to go public next year. Convertible debt led by Abu Dhabi Growth Fund, Fidelity Management & Research Company, Uber and certain funds managed by Highbridge Capital Management make up $418 million of the loan, with the remaining $105 million coming in as a senior secured term loan facility from the private credit group UBS O’Connor.

Founded in 2017, Lime was last valued at $2.4 billion following its $310 million Series D round in July 2019.