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

Safety Tech: Crash Avoidance or Sensory Overload?

As advanced safety technologies become even more pervasive on mainstream vehicles, are we creating “stupid drivers?"

Own the Fleet, Own the Future

In the dialogue surrounding new transportation paradigms, fleets have been off the public radar until recently. Here’s what’s going on, and a way for you to participate in the conversation.

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Job Finder: Access Top Talent. Fill Key Positions.

>