Europcar invests in car-sharing platform

Europcar will commence B2B sales with Ubeeqo
Europcar will commence B2B sales with Ubeeqo

Europcar has announced an acquisition in French car-sharing platform Ubeeqo.

The car hire has taken a majority stake in the start-up and agreed to a capital increase of EUR4 million to develop the business travel car-sharing company, which will include B2B sales.

The car sharing firm will also launch in the UK with the support of Europcar.

Since launching in 2009 Ubeeqo has introduced a tailored business fleet pooling tool, fleet management system based on usage and alternatives to company cars through access to smaller shared cars. In 2013 Ubeeqo posted a turnover of EUR2.6 million, up 40% year-on-year.

“With Ubeeqo, Europcar continues to develop its offering, its skills and its portfolio of technological innovations in mobility. We are immensely attracted by the ingenuity and audacity of the solutions Ubeeqo comes up with,” said Europcar CEO Philippe Germond. “Together, we are going to simplify our customers’ lives by providing them with a new concept that adapts seamlessly to their usage patterns and mobility challenges.”

Europcar already has a car-sharing brand Car2Go in a joint venture with Daimler which launched in 2012.

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