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.
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.