Europcar Group has announced its 20% minority investment in SnappCar, a peer-to-peer carsharing service.
This investment is in line with Europcar’s plan to become a mobility solutions leader. It will also enable SnappCar to take peer-to-peer carsharing to its next stage of development in Europe, according to the company.
With this investment, Europcar joins existing shareholders AutoBinck Group and the Danish startup Studio Founders who have extended their commitment to SnappCar. These investors are joining forces to help SnappCar expand geographically within Europe and improve its platform usage and services for its members.
Started in 2011, SnappCar is a Dutch-based scale-up and social enterprise. It is currently the second largest international peer-to-peer carsharing player in Europe with more than 250,000 customers sharing over 30,000 cars on its platform. Today, SnappCar is available in the Netherlands, Denmark, and Sweden with the intention to expand to new markets.
“We are delighted to be acquiring a stake in SnappCar’s capital,” said Sheila Struyck, managing director of Europcar’s new mobility business unit and Lab Lord. “The Lab invested in this company as it sees its potential of growth, allowing the Group to enrich its mobility offers and to target new types of customers. We see a great opportunity to help this company accelerate its development of carsharing with a peer-to-peer platform throughout Europe.”
“We very much welcome Europcar as a shareholder and partner on our way to conquer Europe,” said Victor van Tol, co-founder and CEO of SnappCar. “Just like Autobinck Group, Europcar has tremendously valuable expertise and knowledge of the current mobility market. Together we can maximize SnappCar’s impact in Europe and, at the same time, further improve and innovate our platform and services for our members.”