Bipi to raise an additional €6M

February 25, 2021

Bipi, a Madrid, Spain-based operator of a car and motorcycle rental business, announced a €6M ($7.2M) extension of its series B round closed in October 2020.

The money was raised from the Italian VC P101 through its second fund P102 and the ITALIA 500 fund. Bipi initially announced series B worth of €10.5M in a round led by the Norwegians from Adevinta.

Proceeds will be used to hire more people as the company is looking to expand to Italy and establish a better position in France, where it started operating in 2020.

Bipi Cars, founded in 2017 by CEO Hans Christ, provides consumers with a hassle-free alternative to car ownership with fully-flexible, all-inclusive monthly subscriptions to high quality new and used cars for a single, all-inclusive monthly payment and a digital-first, 100% online transaction process. TA Ventures invested in Bipi in early 2019 and made several follow-on investments after the initial investment.

In addition to consumer leasing or subscriptions, Bipi also offers a “car check” for companies, so that companies can pay for cars for their employees to use in their personal lives, a feature used by customers such as Techedge and Capital Energy.