Lime now offers weekly subscriptions [TechCrunch]

Following in the footsteps of Lyft and its partner Uber, Lime is launching a subscription plan for its shared electric scooters. Called LimePass, riders who subscribe get access to unlimited free scooter unlocks, instead of paying $1/€1 per unlock, for a week at a time.

LimePass is now available in the U.S., Australia and New Zealand. Lime plans to roll out the pass to additional markets early next month. The cost of LimePass varies by market but Lime says most U.S. cities will cost $4.99. That means, in order for it to be worth it, you would need to ride Lime scooters at least five times a week. It’s a smart move for Lime to do it this way because it will still make money on each ride, and perhaps incentivize people to even ride more.

“We know that more than 50% of our riders worldwide trust Lime for their commutes and personal daily trips around the city,” Lime Product Manager Kevin Shi said in a statement. “With our new LimePass service, we’re proud to offer them a more cost-efficient way to get around town and manage their busy schedules.”

Early next year, Lime plans to become the first company to offer shared electric scooters in Africa. Unlike its model in the U.S. and Europe where it deploys scooters on public sidewalks, Lime will deploy its initial fleet of scooters at privately-owned locations throughout the city.

Earlier this year, Lime raised a $310 million Series D round led by Bain Capital. That round brought its total funding north of $800 million.