The-Hague-based automotive company AutoBinck Group invested around 2 million euro in P2P car sharing company SnappCar, in exchange for a minority share in the 4 year old company.
“The investment in SnappCar is a strategic move”, says Hans Kwaad, Chief Business Development Officer at AutoBinck Group. “We see the peer to peer car sharing market grow and want to be involved. Another significant consideration is that car sharing contributes to increased sustainability in mobility.”
SnappCar facilitates car sharing and has 150.000 Dutch, Danish, German and Swedish users sharing 20.000 cars. SnappCar aspires to expand to 250,000 shared cars by 2018 and further conquer Europe.
Founded in 2011 by Victor van Tol and Pascal Ontijd, SnappCar has, according to the company, become a top 3 player worldwide. Last April, the company acquired the Danish P2P car sharing platform Minbildinbil.dk. followed by Swedish competitor FlexiDrive in October.