Peer-to-peer car-rental service Drivy announces €8M funding, acquires domestic rival Buzzcar

drivyFrench startup Drivy, which bills itself as the largest peer-to-peer car-rental service in Europe, has made a pair of major announcements, revealing that they have taken in another 8 million Euro and acquired competitor Buzzcar. This latest round of funding, obtained from BPI’s Ecotechnologie Fund and Via-ID, as previous investors Index Ventures and Alven Capital, doubles the amount that they had previously raised, bringing it to 16 million Euro. Buzzcar, which was founded in 2011 and acquired its own competitor, Cityzencar, in 2013, will deliver 7,000 and 100,000 to its new owner.

The service works by allowing users to search for cars in their neighborhood, based upon a number of different categories, and then requesting cars that seem like a good match. One the user’s request has been accepted, they can communicate with the owner of the car about the terms of an agreement and then go to rent it.

Drivy was founded in 2010 and become well-established in France, reporting their service currently allows 26,000 cars to be shared among 500,000 users. But now they are ready for more, stating that this latest round will be directed towards funding the company’s international expansion efforts and towards further development of their core service. The company expanded to Germany last year, but now they are preparing for launch in Spain and a third, undisclosed country.

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