The investment forms part of the carmaker’s ‘Push to Pass’ strategic plan which saw it announce last April that it would commit €100m in venture capital to investment in the field of mobility.

The TravelerCar solution is offered in airports, train stations and city centres with three different services:

A free parking solution for car owners who make their vehicle available for rent. In addition, car owners are remunerated if their vehicle is rented out. TravelerCar provides comprehensive insurance coverage for the vehicle and manages the rental process from start to finish An ‘advantageous-price’ parking solution for car owners who prefer not to share their vehicle A reduced-rate car rental option for individuals. This service is provided through TravelerCar rental agencies, which serve as a link between renters and owners Founded in 2012, the start-up now has a network of 80 agencies and over 100,000 users in six countries: France (including the overseas departments and territories), Spain, the Netherlands, Germany, Switzerland and Belgium.

“One of the answers to new car consumer trends is delivering the kind of solutions that TravelerCar has developed,” said Brigitte Courtehoux, head of PSA Group's Connected Services and New Mobility Solutions Business Unit. “The move to give customers a new mobility experience is one we fully embrace at PSA Group. Thanks to the partnership with TravelerCar, PSA Group is continuing to implement its planned strategy to be a strong player in this new ecosystem.”

TravelerCar's founder Ahmed Mhiri added: “Thanks to the partnership with PSA Group, TravelerCar will be able to reach the next stage in its development much faster and extend its offering to other European countries.”