Getaround buys Europe-based Drivy for $300 million

Posted: 24 April 2019 | | No comments yet

The acquisition combines the strengths of both companies to form a leading, global transportation and mobility company spanning North America and Europe.

Getaround buys European based Drivy for $300 million

Car-sharing firm Getaround has acquired Europe’s largest and fastest-growing car-sharing platform, Drivy, for $300 million.

Expanding on Getaround’s vision, the combined company now spans 300 cities in the U.S. and Europe, adding international presence in six European countries: France, Germany, Spain, Austria, Belgium and the UK. With more than 5 million users between the two companies, the acquisition means Getaround is now the world’s leading car-sharing marketplace.

Headquartered in Paris, Drivy has built a community of 2.5 million users across Europe with an established track record of local market execution and innovation. Combining the strengths of Getaround and Drivy will create an unparalleled offering for people in Europe to instantly rent and drive great cars shared by people nearby – all the while reducing the financial burden of car ownership by enabling people to earn money by listing and sharing their car when they’re not using it.

Over the past few years, Getaround has pioneered the connected car sharing marketplace through Getaround Connect, a technology that enables users to locate and unlock cars using their smartphone, making car sharing accessible to more people at any time of day. Getaround and Drivy share this vision of connected car sharing, as Drivy also introduced an instant smartphone unlock function – a connected technology that removes the inconvenience of renters and owners needing to meet up to pick up car keys.

Getaround Founder and CEO, Sam Zaid, said: “We are thrilled to be joining forces with the Drivy team as we move closer to our vision of creating a world where all cars are connected and shared. As the leading European car sharing marketplace, Drivy has built a strong business with products, teams, and values that closely align with ours at Getaround, making for a natural integration for our employees and users. Consumers all over the world are embracing the ease, flexibility and freedom that connected car sharing offers. Getaround is delivering on growing consumer demand by providing a consistent, instant and safe car sharing experience in 140 U.S. cities—and now, across the 170 cities in Europe that Drivy has developed.”

Drivy Founder and CEO, Paulin Dementhon, said: “Thanks to the remarkable work of our team, Drivy has become the largest car sharing platform in Europe. Car sharing will replace car ownership in large urban markets, meeting consumer demands for instant and flexible transportation options, while also making cities more liveable by freeing them from idle cars and reducing congestion and pollution in the process. Connected technology, frictionless user experience, and increased car fleet density are the keys to this evolution, as they make it more convenient to use a shared car than your own. Getaround is an ideal partner for us because our companies are aligned in so many ways while being complementary on key aspects of our business, like geography or fleet acquisition. I look forward to seeing what we can accomplish together.”

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