Europcar invests in SnappCar
Europcar Group has made a 20% minority investment in peer-to-peer car sharing scale-up SnappCar to enable the company’s further expansion in Europe.
The investment sees Europcar join a consortium of existing shareholders – AutoBinck Group and the Danish startup Studio Founders, which have committed to a further €10m investment in Snappcar.
Founded in 2011, Snappcar is present in the Netherlands, Sweden and Denmark and, according to Europcar, it’s the second largest international peer-to-peer car sharing player in Europe with more than 250,000 customers sharing over 30,000 cars available on its platform.
In a statement, Europcar said the investment provides an opportunity to develop its mobility offer and enlarge its customer base and said the group believes the “peer2peer solution has a role to play in cities where it can complement the implementation of a car sharing scheme and in areas in which a car sharing solution is today still not economically sustainable”.
SnappCar’s co-founded and CEO Victor van Tol, added: “We very much welcome Europcar as a shareholder and partner on our way to conquer Europe. Just like Autobinck Group, Europcar has tremendously valuable expertise and knowledge of the current mobility market. Together we can maximise SnappCar’s impact in Europe and, at the same time, further improve and innovate our platform and services for our members.”For more of the latest industry news, click here.