Drivy Raises €31M in Venture Capital Funding
Summary
Drivy, a Paris, France-based peer to peer car rental platform, raised €31m in venture capital funding.Backers included Cathay Innovation, Nokia Growth Partners and existing investors Bpifrance, Via-ID and Index Ventures.The company, which has raised €47m to date, intends to use the funds to expand to other European countries, starting with the UK, to continue to develop the product and grow the team across Europe.Led by CEO and founder Paulin Dementhon, and co-founder and CTO Nicolas Mondollot, Drivy allows users to rent one out of thousands of cars and vans (in such categories as city, commercial, coupé, convertible, minibus, family, sedan, 4×4, antique) available in a given area affordably.The service, currently available in France, Germany and Spain, has 850k users with 1.4 million days of rental completed so far.