Dutch car sharing startup Snappcar raises €10 million

Netherlands-based Snappcar, a peer-to-peer car sharing scale-up, has received €10 million. The funding round was backed by the Europcar Group, a leader in European car rental services, as well as existing investors Autobinck Group and Startup Studio Founders.

Snappcar's ambition is to provide an alternative to car ownership, and decrease the number of cars owned by 5 million by 2022.

The investors will help the company to expand throughout Europe and further develop its platform and members services, for example by introducing keyless technology that makes it possible to open a car using the SnappCar app.

SnappCar is the second largest international peer-to-peer car sharing company in Europe with more than 250,000 customers sharing over 30,000 cars available on its platform. The company's services are now available in the Netherlands, Denmark and Sweden, and it intends to expand to new markets.

“We very much welcome Europcar as a shareholder and partner on our way to conquer Europe," said Victor van Tol, the company's co-Founder and CEO. "Just like Autobinck Group, Europcar has tremendously valuable expertise and knowledge of the current mobility market. Together we can maximize SnappCar’s impact in Europe and, at the same time, further improve and innovate our platform and services for our members.”

Read more: Europcar (Press release)