Mango diversifies with its startup accelerator, ventures into mobility with Hoop Carpool

Mango is continuing to fuel innovation through its startup accelerator, recently announcing a strategic investment in the mobility startup, Hoop Carpool. This venture allows employees of various companies and university students to efficiently share short commutes.

Facilitated by Mango Startup Studio, the conglomerate’s accelerator arm, the investment is structured as a convertible participating loan. It will also entail Hoop Carpool’s entry into a program where the founders of the startup “will gain firsthand insights into Mango’s operations, enabling them to scale their business model effectively,” as explained by the company.

As part of a six-month pilot program, Mango will introduce Hoop Carpool’s services to its headquarters’ employees based in Barcelona. Hoop Carpool, headquartered in Madrid, boasts a team of over 25 professionals and operates across Spain, Portugal, Colombia, and Mexico.

This marks Mango’s seventh investment through its startup accelerator, launched in 2022. Previous investments include Ziknes, specializing in sustainable 3D printing, Flipflow, focusing on market analytics and data monitoring, Recovo, dedicated to textile surplus resale, and La Más Mona, known for clothing rental services.

Mango Startup Studio aims to drive innovation within the company and contribute to the development of cutting-edge technologies and business models, particularly in the fashion industry and customer experience sectors. Its focus encompasses technology, sustainability, and value chain optimization.

Founded by Isak Andic in 1984, Mango is celebrating four decades of success this year. The Catalan company operates in over 115 markets worldwide and reported a 15% increase in sales, reaching 3.1 billion euros in the 2023 financial year. With ambitious growth targets, Mango aims to achieve a turnover of 4 billion euros by 2026.