The Helbiz team had ICO in 2018.
Helbiz coin holders lost their money.
Now Helbiz is going to IPO.
Helbiz coin holders filed a class-action case against Helbiz Inc., Salvatore Palella and others.
Case filed in New York Southern District Court on June 19, 2020

Helbiz Blockchain

04.04.19

Helbiz Blockchain

Actually, Helbiz works on the blockchain and Ethereum smart contracts.

The lead blockchain developer of Helbiz is Carlos Beltran. He described, how Helbiz blockchain is working, and what is the technical perspective. It's a big article with some technical moments.

Also, I recall you about part of "HBZ payments are alive!"
“
It's important to note that we're not processing payments for EACH scooter rental on Ethereum, only the initial deposit of tokens. We are managing tokens this way because they are acting as in-app credits for this use case. More importantly, we avoid paying gas fees.

Eventually, we'll process token payments on a private blockchain.Anybody can be specific and obvious. That's always been the easy way. It's not that it's so difficult to be unspecific and less obvious; it's just that there's nothing, absolutely nothing, to be specific and obvious about.
— Helbiz Official
Also, it's a part of some chat between Helbiz's investor and Helbiz's developer:
22. Helbiz Pay partnership with Asian Carsharing
Helbiz announced new partnership
21. Helbiz Pay - 3rd party integrations
About Helbiz Pay 3rd party solutions and HBZ SDK
20. Helbiz Card for HBZ coins
Description of Helbiz card product. How Helbiz card looks like? Helbiz is going to do the same cards as CoinBase, because of PaySafe
18. Money Transmitter License and BitLicense for Helbiz Pay
Status of licensing process or Helbiz Pay: MTL and BitLicense procedure. What does this mean? Does BitFinex or Ripple has this license?
17. Helbiz partnership with Jaxx
About the Jaxx supports Helbiz. Anthony Di Lorio and Salvatore Palella have ties. HBZ are live in Jaxx wallet.
16. Helbiz partnership with Skrill
About the Helbiz and Skrill cooperation. Lorenzo Pellegrino is an adviser of Skrill. How was the Helbiz listed on the EXMO