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Transaction
TravelerCar raises €5m with MAIF Avenir and PSA Group

Date
April, 2016
Sectors

Mobility, Marketplace

Deal type

Private Placement

Deal locations

France

Deal Team
IMG_5483 (2)_JPG.avif
Sandrine
Vergnory-Mion
M&A Advisory
Background
  • TravelCar is the world leader in traveler-to-traveler car-sharing services. TravelCar offers travelers free parking at airports, train stations, and city centers in exchange for renting their cars out to other customers. The car owner gets free parking, earns money with the rental while the renter pays low rates for a high-quality service. For car owners that prefer not to share their car, TravelCar also offers parking solutions that are 50% cheaper than official parking facilities. TravelCar brokers parking spots at an extensive network of parking facilities through travel agencies and its website travelcar.com.  TravelCar was founded in 2012 in France and grew exponentially ever since. Present already in European countries, TravelCar is launching its operations in North America. TravelCar has more than 300,000 members, is available in 10 countries, and continues to expand worldwide.

  • MAIF Avenir is a Corporate Venture Capital fund, which invests in three themes: innovation, digital, and the sharing economy. The fund is a tool that allows MAIF, via a portfolio of startups, to develop new services for its customers, to access new communities, new technologies, new platforms, to have a better understanding of the digital and innovate accordingly. MAIF Avenir is planning to invest €125M until 2018, or €30M per year on average. MAIF is a large French insurance group.

  • Manufacturer of the three renowned car brands: Peugeot, Citroën, and DS, the PSA Group sold 3 million vehicles worldwide, and recorded revenues of €54Bn during 2015. PSA Group is the second-largest car manufacturer in Europe and a European leader in CO2 emissions, with an average of 104,4 grams of CO2/km in 2015. The firm is also a groundbreaker in the shared vehicle space, with 1.8 million connected vehicles on offer in the world. The Group’s activities extend to financing (Banque PSA Finance), as well as car equipment manufacturing (Faurecia).

Process
  • This fundraising confirms TravelerCar’s leadership and will help them both accelerate their European development and continue innovating to provide leading customer experience.

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