Drivy raises 31 million euros to keep its competitors at bay

by bold-lichterman

The amount

Drivy, the car rental platform between individuals, has just completed a fundraising of 31 million euros from Cathay Innovation and Nokia Growth Partners. The French company also benefited from the participation of the Ecotechnologies Fund of Bpifrance, Via ID and Index Ventures to complete this round of funding. This new operation brings the total investment received by Drivy since its creation to 47 million euros, after two fundraising, in 2014 and 2015.

The market

Founded in 2010 by Paulin Dementhon, Drivy is a Paris-based company that offers a car rental platform between individuals on a European scale. After its launch in France, the Drivy service set up in Germany and Spain. In 2015, it bought out its main competitor Buzzcar, but the market remains ultra-competitive. Companies, like Yes because (which claims 30,000 cars in France), TravelerCar (for travelers and in city centers), but also Tripndrive, which intends to leave airports and stations, are competing for leadership in the sector. Koolicar is also in the race, after raising 18 million euros, notably from PSA.

To date, Drivy claims a total of 36,000 cars for hire with a network of 850,000 users across Europe. The service has announced no less than 1.4 million rental days since its launch.

The objectives of the Start-up

With this new investment, Drivy wishes to continue its international expansion. The Parisian company plans to open its platform in three new countries by the end of the year. The funds will be dedicated to investment in R&D and the development of its applications. Emphasis will be placed in particular on the deployment of Drivy Open, a technology developed by the company to open vehicle doors with their smartphone and self-service rental.

CEO: Paulin Dementhon

Creation: 2010

The head office : Paris

Activity: car rental platform between individuals

Funding: € 6 million (2014), € 8 million (2015), € 31 million raised (April 2016)

Competitors: OuiCar, TravelerCar, Tripndrive, Koolicar …

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