Kibo Ventures leads €2.5m round for Bipi

The funding round saw several business angels take part in the transaction alongside existing seed investors B4Motion and Stella Maris Partners. Other investors in the business are Avianta Capital and several high-net-worth individuals based in Spain and Latin America.

Following the deal, the company aims to use the fresh capital to support its expansion across other cities, including Málaga, Lisbon and Paris, and increase its headcount. Bipi is also keen on expanding its business towards another country.

In October 2016, Kibo held a first close on €71m for its second vehicle, Kibo Ventures Fund II.

Company
Founded in 2015, Bipi develops a mobile app focusing on the car rental space. The application allows customers to receive their vehicle at an agreed location and drop it off in any location. It currently manages 100 cars from several brands, such as Tesla, Infinity and BMW.

Headquartered in Madrid, the business operates in Madrid and Barcelona and employs 35 people.

People
Kibo Ventures – Sonia Fernández (partner).
Bipi – Hans Christ (CEO).

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• Topics
• Expansion
• Technology
• Southern Europe
• Consumer
• Venture
• Spain