Getaround acquires European car rental platform Drivy for $300 millionApril 24, 2019
Getaround, the peer-to-peer car-sharing startup that launched at TC Disrupt back in 2011, is making moves to become a global car rental service. Today, the SoftBank-backed startup announced its acquisition of Drivy, a Paris-headquartered car-sharing startup that operates in 170 European cities.
“We were obviously looking at what our European strategy was and how we would expand out of the U.S. and into other parts of the world,” Getaround CEO Sam Zaid told TechCrunch. “When we started looking at Europe, it became clear Drivy was the market leader. They also shared the same vision.”
This marks Getaround’s first expansion out of the U.S. As part of the deal, Drivy founder and CEO Paulin Dementhon will run the company’s operations in Europe as CEO for the continent.
“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,” Dementhon said in a statement. “I look forward to seeing what we can accomplish together.”
Combined with Drivy, Getaround now has more than five million users. Moving forward, Getaround has its eyes set on becoming a truly global company.
“The objective here is to build the iconic brand for consumers in car share and next-generation mobility, and be one of those companies with a global footprint,” Zaid said. “Servicing people living in their home cities but also when they travel to other cities across the world.”
This acquisition and plans for expansion are undoubtedly fueled by the $300 million Series D round Getaround raised in August from SoftBank.