VCs sell Drivy to Getaround in $300m deal

The combined company now spans 300 cities in the US and Europe and serves five million users. 

The businesses are very similar in their offering but complementary in aspects such as geography and fleet acquisition, according to a statement. Drivy’s CEO Paulin Dementhon will remain in his role as the CEO of Europe.

Founded in 2009, San Francisco-based Getaround is an online car sharing or peer-to-peer carsharing service that allows drivers to rent cars from private car owners, and owners to rent out their cars for payment.

Previous funding
Drivy first received a €2m round of funding in 2012, followed by a capital injection of €6m by Index and Alven two years later, to support the startup’s growth across the European market.

The business then secured a €16m round from BPI's Ecotechnologie Fund, Via-ID and existing investors Index and Alven Capital in 2015, to acquire competitor Buzzcar and foster international expansion.

Finally, in 2016, Drivy raised €31m in a series-C round led by Cathay Innovation and Nokia Growth Partners (NGP). Other participants in the round included BPI France, Via-ID (part of the Mobivia group) and Index Ventures.

Company
Founded in 2010 and headquartered in Paris, Drivy is a peer-to-peer car rental service, available in France, Germany, Spain, Austria, Belgium and the UK, serving two and a half million users. The service gives drivers the possibility to rent a car from nearby car owners. In 2015, Drivy launched Drivy Open, a technology enabling drivers to open cars with their smartphones and carry out self-service rentals.

People
Getaround - Sam Zaid (founder,CEO).
Drivy - Paulin Dementhon (founder, CEO).

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