IMPROVED advises Fixico on its Private Placement from Silicon-Valley based Autotech VC
- Date June 12th, 2019
- Transaction type Growth Financing
- Sector Mobility
- Sub Sector Marketplace (Car Damage Repair)
Fixico, an innovative online platform for car damage repair, has raised €7 million to grow its international footprint and fleet & insurance partnerships. The Dutch technology company offers a digital platform that seamlessly handles car repair for consumers, insurers, and fleet owners, providing them with full control at every step in the repair process.
The funding round was led by Autotech Ventures, an early backer of Nasdaq Stock listed Lyft (LYFT), a top competitor of Uber (NYSE:UBER), and other successful startups like Frontier Car Group and Outdoorsy. Autotech Ventures’ Managing Partner Alexei Andreev joins Fixico’s Supervisory Board. Previous investors, such as serial entrepreneur Laurens Groenendijk (JustEat, Treatwell, Hiber) and Orange Growth Capital also participated in this round, bringing the total amount of funding to date to €14.3M.
Fixico is currently active in the Benelux, Germany, and South Africa, working with one of Europe’s largest independent, high-quality repair networks of 2,000 shops in total. Thanks to a strong foothold in the consumer space, Fixico made its first decisive steps in the international business-to-business market in 2018 and is now poised to rapidly scale up further across Europe. Autotech’s (et al.) fresh capital will be employed to accelerate this growth and strengthen Fixico’s B2B solutions.
“With Autotech Ventures, we have a unique partner on board that will empower us to become a top European player in the digital damage repair space ... It’s a great acknowledgment for the team that such a global industry expert is backing us. Their unparalleled network in and deep knowledge of the mobility industry create the perfect conditions for us to scale up fast. We are looking forward to working closely together, as this marks a clear milestone and propels us in a completely new phase in our company’s story."
Roodhuyzen de Vries
“We’re continuously looking for promising companies in the mobility sector globally, and believe that the model across the value chain that Fixico is building has the potential to change a $70 billion market. The team is outstanding, and we are looking forward to supporting Fixico’s international expansion and building a global category winner.”
Managing Director, Autotech Ventures
“Autotech is most likely the very best partner for helping Fixico to the next phase(s). Their knowledge, expertise, network, and value creating support is unmatched ... We are becoming better and better in creating the hub for connecting Silicon Valley investors to Dutch technology growth companies. With the global responsibility for the verticals Mobility, Smart City, and Energy Transition, we are happy with yet another proof point.”
Managing Partner, IMPROVED