HomeFundingMadrid-based car sharing platform eccocar raises €495k

Madrid-based car sharing platform eccocar raises €495k

Mobility has become one of the main challenges of the 21st century. Having a personal vehicle is more expensive than ever, however most vehicles aren’t in use during 95% of their lifetime.

The Madrid-based carsharing platform eccocar offers fleet management services to car rental agencies, corporates, car dealers, public administrations, and communities. Unlike other existing platforms that are available in the market, eccocar allows the sharing of vehicles, thereby optimizing fleet size and reducing the number of vehicles used (and CO2 emissions).

Founded in 2015, eccocar has just raised €495k, which will be mainly used to implement its technology to boost the digitalization of the car rental sector. The round was led by investors from Valgine, CMC XXI and Pinama, with participation from Galician capital funds such as Xesgalicia, Vigo Activo, and various business angels.

With eccocar, users are able to manage the entire process of renting a car from their mobile phone, including opening and starting the vehicle. Sharing and digitalizing the car fleet of a corporate amongst their employees can reduce their car fleet by up to 30% and the mobility expenses by up to 60%.

“The continuous improvement of our product has always been a critical factor in our business trajectory”, says Ivan Luarca, eccocar’s CEO. “Because of our continuous improvement, we are a Spanish startup that is increasingly expanding both nationally and internationally.”

Specializing in fleet management and rental cars, eccocar operates in Spain and Portugal working with corporate partners such as Endesa, Cofares, Ferrovial, and Prosegur.

In car rental sector, eccocar has business agreements with Like (a car sharing operator in Barcelona, which will launch their service in summer with an estimate of 150 hybrid vehicles), Proa in the Balearic Islands, and WeRental in Valencia.

In 2019, eccocar is planning to close business deals internationally with urban mobility operators for cars, motorcycles and other sustainable vehicles to improve mobility in city centres.

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Mary Loritz
Mary Loritz
Mary served as Head of Content at EU-Startups.com from November 2018 until November 2019. She is an experienced journalist and researcher covering tech and business topics.

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