FJ Labs invests in car renting startup Vamos

Headquartered in New York City, FJ Labs manages a $175m fund that targets pre-seed, seed and series-A rounds in companies based across North America, Asia and Europe, primarily digital marketplaces and e-commerce specialists. In 2019, the firm made 83 first-time investments.

Vamos intends to use the fresh capital to further boost its growth and expansion, which has accelerated in the last few months following the coronavirus outbreak. Vamos recorded a 142% increase in revenues in Q3 2020 compared to the previous quarter.

Previous funding
Vamos raised a funding round in June 2019 of an undisclosed amount led by Axel Springer Digital Ventures, the corporate venture arm of German media group Axel Springer. Private investors, including Patricia Riberas, director of the automotive multinational Gestamp, also took part in the round.

Company
Established in 2019 and based in Madrid, Vamos is a car rental platform. It operates as a digital dealership offering customers the possibility to hire vehicles online and have them delivered within 15 days.

Since launch, Vamos has provided its customers with more than 1,500 vehicles on its platform, distributing cars in 420 different locations across Spain.  

Vamos expects to generate positive EBITDA and reach annual revenues of around €20m in 2020.

People
Vamos – Mario Carranza (founder, CEO).

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