AMSTERDAM | SAN FRANCISCO | June 12, 2019 – Fixico, a leading online platform for car damage repair, has raised capital to grow its international footprint and fleet & insurance partnerships. The Dutch technology company offers a digital platform that seamlessly handles car repair for consumers, insurers, and fleet owners, providing them with full control at every step in the repair process. Drake Star Partners acted as exclusive financial advisor to Fixico on this transaction.
This funding round was led by Autotech Ventures, an early backer of Nasdaq Stock listed Lyft (LYFT), a top competitor of Uber (NYSE:UBER), and other successful startups like Frontier Car Group and Outdoorsy. Autotech Ventures’ Managing Partner Alexei Andreev joins Fixico’s Supervisory Board. Previous investors, such as serial entrepreneur Laurens Groenendijk (JustEat, Treatwell, Hiber) and Orange Growth Capital also participated in this round.
Fixico is currently active in the Benelux, Germany, and South Africa, working with one of Europe’s largest independent, high-quality repair networks of 2,000 shops in total. Thanks to its foothold in the consumer space, Fixico took its first decisive steps in the international business-to-business market in 2018 and is now on course to rapidly scale up further across Europe. Autotech’s (et al.) fresh capital will be employed to accelerate this growth and strengthen Fixico’s B2B solutions.
“With Autotech Ventures, we have a unique partner on board that will empower us to become a top European player in the digital damage repair space,” said Derk Roodhuyzen de Vries, CEO of Fixico. “It’s a great acknowledgment for the team that such a global industry expert is backing us. Their unparalleled network in and deep knowledge of the mobility industry create the perfect conditions for us to scale up fast. We are looking forward to working closely together, as this marks a clear milestone and propels us in a completely new phase in our company’s story.”
“We’re continuously looking for promising companies in the mobility sector globally, and believe that the model across the value chain that Fixico is building has the potential to change a $70 billion market. The team is outstanding, and we are looking forward to supporting Fixico’s international expansion and building a global category winner,” said Alexei Andreev Managing Director at Autotech Ventures.
“Autotech is most likely the very best partner for helping Fixico to the next phase(s). Their knowledge, expertise, network, and value creating support is unmatched,” commented Frank Verbeek, Managing Partner of Drake Star Partners Amsterdam. “We are becoming better and better in creating the hub for connecting Silicon Valley investors to Dutch technology growth companies. With our global focus on the Mobility, Smart City, and Energy Transition verticals, this transaction further proves the point of how relevant and essential our domain expertise can be to get these cross-border deals across the line.”
Drake Star Partners team: Frank Verbeek, Manus Weber, Marlon Brand
Legal advisors: Van Campen Liem
Fixico is a fast-growing and award-winning Dutch tech company that aims to redefine the car damage repair industry. Operating from our headquarters in Amsterdam, we provide end-to-end solutions for insurance, fleet, and rental companies, collaborate with over 2000 high-quality repair shops. Fixico is currently active in the Netherlands, Belgium, Germany, and South Africa.
For more information, please visit www.fixico.nl
About Autotech Ventures
Autotech Ventures is a Silicon Valley-based venture capital firm which aims to generate financial returns by helping passionate entrepreneurs to deploy revolutionary transportation technologies and business models. We provide startups with capital, ground transportation market intelligence, and access to our transportation sector network, which includes our corporate investors representing a global market capitalization of over $500B. As a lead or follower investor, we leverage our deep industry network to help our portfolio companies recruit transportation-specific talent and engage corporations as their scale-up partners.
For more information, please visit www.autotechvc.com
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Managing Partner | Drake Star Partners, Netherlands
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Principal | Drake Star Partners, Netherlands
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