
Russmedia-backed Erento buys Campanda
Russmedia Equity Partners portfolio company Erento, a rental site for vehicles, equipment and venues, has wholly acquired Campanda, a motorhome vehicle holiday booking platform.
The deal was supported by additional equity from the GP alongside funding from Erento's balance sheet, equating to a roughly 50:50 ratio, according to Chris Wittlinger, investment manager at Russmedia.
Erento's founder, Chris Möller, founded Campanda in 2013, having founded Erento in 2003.
The GP said in a statement that the rationale behind the acquisition was based on the fact that domestic travel in a motorhome looks set to be a safe way to holiday in the summer, given the current coronavirus pandemic. Wittlinger told Unquote that the GP is actively monitoring the recreational vehicle (RV) rental market for further add-on opportunities.
Asked about the deal process, Wittlinger told Unquote: "We know the company well and have been talking to them for a couple of years. We approached them again in mid-March and executed the deal within eight weeks."
Russmedia Equity Partners acquired Erento in June 2011. The GP invests via a one-LP evergreen fund, Wittlinger told Unquote, but the firm operates separately from media company Russmedia and does not depend solely on its balance sheet.
Previous funding
Campanda has held five rounds of growth funding, the latest of which was in January 2017, led by Accel Partners. Michelin Travel Partner, Idinvest Partners, Ecomobility Ventures, Groupe Arnault, Ringier Digital Ventures, BtoV Partners and Atlantic Labs also backed the €10m series-B round.
Company
Founded in 2013, Campanda is an online platform that allows customers to rent camper vans, trailers and luxury RVs for travel in 900 locations in Europe, Canada, the US, New Zealand and Australia. The company allows vehicle owners to list their vehicles on the site for free and takes commission on confirmed bookings. Campanda also offers customer support services for users, providing account managers for those listing their vehicles.
Based in Berlin, the company has 29 employees, according to LinkedIn. It reported negative profit of more than €4m in 2018, according to Northdata. Its revenues are $102m, according to Zoominfo.
People
Erento – Luca Dremelj (CEO); Robert Rutkowski (managing director).
Russmedia Equity Partners – Chris Wittlinger (investment manager).
Advisers
Equity – Heuking Kühn Lüer Wojtek, Alexander Weber (legal).
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