Index Ventures and Alven inject €6m into Drivy

The fresh capital will enable the company to add to its team and to expand its service into Germany and Spain. Drivy also has future plans to extend its offering to the UK, Belgium, The Netherlands and Italy.

The VCs stated they were attracted to the company by its ability to offer customers the convenience of a car without incurring maintenance and depreciation costs associated with ownership.

The latest round brings the total investment in Drivy, which reported 20% month-to-month growth, to €8m.

In April, Index Ventures joined Forward Partners in a $3.3m round for Big Health, a London-based developer of web- and mobile-based behavioural medicine programmes. The VC was also one of the major selling shareholders in Just-Eat's recent flotation on the London Stock Exchange.

Company
Founded in 2010, Drivy is a Paris-based peer-to-peer car rental service with a network of 16,000 vehicles nationwide. The company has a headcount of 20.

It has 250,000 customers and allows them to book cars via a mobile app or website. The company stated that car owners signed up to its service make €1,000 each from their vehicles.

People
CEO Paulin Dementhon is a co-founder of Drivy, as is Nicolas Mondollot. Martin Mignot is an early-stage investor at Index. Jeremy Uzan is a partner at Alven.

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• Topics
• Expansion
• France
• Technology
• Index Ventures
• Alven Capital
• France