Electrical scooter start-up Lime is shedding round 100 workers and pulling out of 12 cities.

The San Francisco-based firm confirmed it will finish operations in seven Latin American cities, 4 US cities, and one European metropolis.

The story was first reported by US information web site Axios.

Lime’s public e-scooters will be discovered on streets and in parks in additional than 100 cities worldwide. They’re accessed by way of a smartphone app.

Buyers have pumped a whole bunch of tens of millions of {dollars} into e-scooter corporations however the majority of them stay unprofitable.

Lime has been backed by Uber and enterprise capital firm GV, previously referred to as Google Ventures, in addition to many others.

“Monetary independence is our objective for 2020, and we’re assured that Lime would be the first next-generation mobility firm to achieve profitability,” mentioned Brad Bao, Lime chief government and co-founder, in a press release.

“We’re immensely grateful for our group members, riders, Juicers and cities who supported us, and we hope to reintroduce Lime again into these communities when the time is true.”

A spokeswoman for Lime instructed the BBC that 14% of Lime’s workforce can be laid off.

Lime will stop operations within the following cities:

• US: Atlanta, Phoenix, San Diego and San Antonio
• Europe: Linz, Austria
• Latin America: Bogotá, Buenos Aires, Montevideo, Lima, Puerto Vallarta, Rio de Janeiro and São Paulo