Portfolio

Virtuo raises €20m Series B to expand its hassle-free truly mobile car rental across UK

FEB 12, 2019

Car rental startup, Virtuo, has raised €20 million (£17.3m) to help it make a big push into the UK market in 2019.

We are excited to announce we participated in this round alongside Iris Capital and Raise Ventures, having led the company’s Series A in September 2017.

The Virtuo app eliminates the stresses of traditional car rental, allowing users to book and unlock a pristine Mercedes A-Class or GLA in minutes. Virtuo users can complete all paperwork in the app before picking up a valeted car and unlocking it with a smart key downloaded to their phone

Travel outside cities in many European countries is not well served. Here in the UK, the railways are becoming less efficient and increasingly expensive. We want to show a younger generation that cars are still a really convenient and cheap way to travel and that you don’t need to own a vehicle to be able to have on-demand and hassle-free access to it.

Virtuo’s Co-founder, Karim Kaddoura

The Virtuo app allows users to book and unlock a rental car in minutes.

Having launched in London last summer, Virtuo is now planning to expand to other UK cities including Manchester, Bristol and Edinburgh. Alongside its 21 locations across France and Belgium, the company will also be launching in Spain and Germany in 2019, making it a truly pan-European rental option.

Renting a car as and when you need it is becoming a viable alternative to buying, particularly for younger people who have come of age as the sharing economy took off. The same way innovative tech companies are disrupting legacy players in sectors like finance, Virtuo is radically changing the way we hire a car.

Bernard Liautaud, Managing Partner of Balderton Capital

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