TA Ventures exited Spanish mobility startup Bipi

July 27, 2021

We are delighted to announce that TA Ventures successfully exited Spanish car subscription startup Bipi. The exit is a result of the acquisition of Bipi by RCI Bank and Services, the Renault Group’s automotive captive. 

Bipi and RCI Bank and Services — deal details

Founded in 2018 in Spain, Bipi is now present in Spain, France and Italy. With 120 employees, it has serviced more than 10,000 customers in the last 3 years. Its subscription offer provides a turnkey solution, from the subscription to the return of the vehicle. Everything is included in one monthly payment, avoiding any surprises or unexpected expenses for the customer. The customer creates a tailor-made subscription: he chooses the duration of use of the car (from 1 to 36 months) and can change the mileage, the category or model of the car according to his needs. The subscription can be terminated at any time and with full transparency. 

In July 2021, RCI Bank and Services, the Renault Group’s automotive captive, acquired Bipi, a multi-brand platform that is a reference in car subscription offers for used vehicles, a growing segment.  RCI Bank and Services will support Bipi to accelerate its growth and to open new markets, together with Bipi’s current supply partners and in conjunction with RCI Bank and Services’ dealership partners. 

Through this acquisition, RCI Bank and Services will extend its range of flexible all-inclusive products with multi-brand subscriptions dedicated to used vehicles. Bipi will also enable the design of subscription formulae for Mobilize’s activities, in order to meet the new expectations of car drivers. 

TA Ventures exit details

Since 2014 the Mobility Industry has been a core focus area for TA Ventures. When the car subscription model started to emerge in Europe the firm identified Bipi as one of the most promising teams and made the initial investment in 2019. TA Ventures has helped to structure the Series A round and brought along their co-investment club ICLUB. Both entities doubled down in the following Series B in 2020. Bipi was also backed by leading investors such as Kibo Ventures, Maniv Mobility, Adevinta Ventures and Toyota Ventures

The investment was sourced and led by Frankfurt-based Pawel Schapiro who is a Partner at TA Ventures and responsible for the Mobility vertical at TA Ventures. «We are very excited to see Bipi join forces with RCI Bank and Services, who have the right resources and experience to bring Bipi to the next level. We think it is only the beginning for Bipi who have built an incredible infrastructure for a new alternative to car ownership. All the credit should go to Hans, Alejandro and the rest of the amazing Bipi team.»