Bird and Lime scooters in downtown San Jose, Calif. Photo: Bloomberg
Jan. 27, 2021 6:00 AM PST

Dogged by questions of financial viability and then a pandemic that crippled demand for scooter rentals, Bird and Lime are taking steps to repair the damage.

Bird is finalizing a deal to raise more than $100 million in convertible debt, led by existing investors Sequoia Capital and Valor Equity Partners, people familiar with the matter said. The financing comes after the scooter operator had discussions about mergers over the past few months with at least three special purpose acquisition companies, including DPCM Capital, run by former Uber executive Emil Michael.