Iris leads €20m series-B for Virtuo

Balderton Capital and Raise Ventures also took part in the funding round, which will enable the company to expand its footprint in the UK.

Virtuo currently operates from 27 locations across France, Belgium and the UK. Its UK presence currently consists of six London locations and it intends to add a further five London sites in addition to launching in Edinburgh, Bristol and Manchester. The company also plans to launch in Spain and Germany by the end of 2019.

Previous funding
Balderton Capital led a €7.5m funding round for Virtuo in 2017, with Raise Ventures also taking part.

Company
Founded in 2015, Paris-headquartered Virtuo is a car rental business that exclusively focuses on the rental of the Mercedes A-class and GLA ranges. The company enables users to book and pay via an app, in a similar fashion to car sharing clubs.

People
Iris Capital - Stéphane Pesqué (partner).
Balderton Capital - Bernard Liautaud (managing partner).
Virtuo - Karim Kaddoura (co-founder).

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• Topics
• Expansion
• France
• Consumer
• France
• Balderton Capital
• Venture
• Iris Capital