Vimcar: Next Chapter for Berlin-based Mobility Scale-Up
Ready to build the largest fleet tech company in Europe — Vimcar is joining forces with Swiss player Avrios and US investor Battery
Ready to build Europe’s largest fleet tech company
Berlin/Munich, January 12, 2023 — Exit of portfolio company Vimcar: four years after the initial investment, Acton Capital is selling all shares in the Berlin-based mobility company to US investor Battery Ventures. The transaction is part of Vimcar’s founders Andreas Schneider and Christian Siewek will remain shareholders of the new company.
The European fleet management market is in upheaval. Companies need digital solutions to implement EU regulations and remain competitive. US financial investor Battery Ventures invests in two complementary cloud software companies for this growing market: Avrios and Vimcar. As part of this transaction, Acton Capital is selling all its shares in Vimcar GmbH, Berlin.
Vimcar x Acton Capital: Capital-efficient growth. Driven by Reason.
Acton invested in Vimcar in December 2018 as lead investor of the Series B financing round. The goal of the capital increase at that time was the evolution from a driver’s logbook app to an integrated software provider for small and medium-sized companies. After only 4 years, this goal has been achieved, and with the international consolidation now underway, the next chapter for the company has started.
“We would like to thank our investors on the growth path until now. Everyone has played an important part in achieving this major milestone,” said Andreas Schneider, founder and co-CEO at Vimcar.
Dominik Alvermann, Managing Partner at Acton Capital, has supported the team since the initial investment in 2018: “We were very impressed by the way Vimcar grew both, its established business and the new segment, despite the Corona crisis. The team around the founders Andreas and Christian has succeeded in bringing a convincing product to market while achieving far above-average customer satisfaction.”
“They have demonstrated unusually high capital efficiency on this growth journey. With this transaction the total capital invested will be returned more than 10-fold.”
Dominik Alvermann (Managing Partner at Acton Capital)
Teaming up with Avrios and joining the portfolio of US investor Battery
European companies with their own vehicle fleets are facing considerable challenges: They have to ensure mobility, cope with rising operating costs, meet CO2 reduction targets and manage the switch to electric mobility, all at the same time. The variety of these tasks can hardly be managed efficiently with manual processes. Digital fleet solutions are therefore a growth market.
Battery Ventures invests in two complementary cloud software companies for the growing market: Avrios from Zurich and Vimcar, leading player in the DACH market.
“The partnership with Battery and Avrios puts us in a joint position to serve more than 250,000 vehicles in Germany, Austria and Switzerland with a unique mix of telematics and software, and to create a
powerful, pan-European service in the medium term.”
Christian Siewek, founder and co-CEO at Vimcar.
The two mobility scaleups offer complementary software solutions for fleets. With these applications, fleet management can be consistently digitalised, operating costs optimised, emissions reduced and vehicles located. In addition, user companies can meet all regulatory
requirements and save taxes. Together, the two companies employ over 250 people and serve tens of thousands of customers with over 250,000 vehicles throughout Europe from a wide range of industries such as construction, technical field service, healthcare, or production and administration.
About Vimcar
Vimcar, a Berlin-based scale-up company, is a leading provider of fleet management software solutions for small and medium-sized enterprises with fleets of up to 200 vehicles. The SaaS solutions cover all aspects of fleet management — from real-time tracking to theft alerts and route planning. The company’s own market-leading digital driver’s logbook meets all the requirements of the tax authorities in the DACH region. More than 60,000 customers already drive with Vimcar’s award-winning software. Among them are Deutsche Bahn, Allianz, Free Now, Knauf, Koziol and Nippon Seiki.
Originally published at https://actoncapital.com on January 12, 2023.
