Drivy, a peer-to-peer car rental service that delivers the convenience of having a car without having to own one, has announced a €6 million series A round, from existing investors Index Ventures and Alven Capital. The new cash, which brings the total amount raised to €8m, will be used for Drivy’s pan-European expansion, product development and to grow the 20-strong team in France and across Europe.
Following its success in France, where it has attracted 250K users the young company will now make its service available in Germany and Spain. Offices in Italy, The Netherlands, Belgium and the UK are set to follow. The Paris-headquartered startup, which has been founded in December 2010, makes it quick and easy for drivers to rent a car, as and when they need it, from car-owners whose vehicles would otherwise sit idle. With 24/7 access and a network of over 16,000 locations across France, the service offers the freedom and flexibility of having a car, without the flipsides of ownership such as depreciation, maintenance and security.
Paulin Dementhon, CEO and co-founder of Drivy, said: “Driving your own car is by far the dominant mode of car transportation today. But a group of companies including Uber, Lyft, Blablacar, Autolib’, Car2go, Zipcar and Drivy have started changing that paradigm. By the end of the decade, ‘Car as a Service’ will overtake car ownership as the most convenient and widespread way to move by car.”