French Carsharing Drivy Raises $35M in Funding

French peer-to-peer carsharing service Drivy has closed a $35.2M round of funding, which was led by Cathay Innovation and Nokia Growth Partners, according to a report by The Pe Hub Network. Other participants included Bpifrance’s Ecotechnologie Fund, Via-ID (Mobivia group), and Index Venture.

Drivy will use the investment to expand into three new markets in Europe by the end of 2016, including the United Kingdom, according to the report. Additonally, the funding will be used to increase innovation and product development, says the report.

Founded in France in 2010, Drivy currently operates in France, Germany, and Spain. In the last six years, it has grown to about 850,000 users, says the report.

“Drivy combines the quality of carsharing user experience and the scale of peer-to-peer marketplaces, with 3-digits growth every year,” Paulin Dementhon, CEO and founder of Drivy, told The Pe Hub Network. “We have met all conditions to accelerate international expansion — great apps, a worldwide insurance partnership, and a strong management team. We will also continue to reduce friction in the rental process thanks to mobile and telematics, with Drivy Open self-service rentals spearheading this effort.”

Click here for the full Pe Hub Network report. 

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

What a Connected Fleet Means to Avis (and Car Rental)

Counter bypass is just the beginning. The promise of a “data-driven ecosystem” that connects renters with the rental agency, retail services, and even the city is a better managed fleet, an improved user experience, and new revenue opportunities during the rental itself.

Should Peer-to-Peer Renters Pay Airport Car Rental Fees?

The question is central to the City of San Francisco’s lawsuit against Turo for operating without a permit at San Francisco International Airport.

Hard Times Ahead for the Compact SUV Segment?

The hottest segment today is facing a glut of models and volume in tomorrow’s wholesale market.

Job Finder: Access Top Talent. Fill Key Positions.

>