Fixico closes €12 million Series A financing round
Berlin — Fixico, Europe’s leading digital car repair platform, announces a €5 million expansion of its Series A funding round, closing it with a total of €12 million. The round is led by Autotech Venture. All existing investors, including Fin Capital, continue to actively participate. In addition, Fixico welcomes Madrid-based Mundi Ventures to its investor base. To date, Fixico has raised a total of €19.3 million. The new funds will accelerate Fixico’s product development, strengthen its presence in Germany and drive its expansion in Europe.
Digitalization boost for the processing of car repairs
Fixico is a fast-growing and award-winning Dutch tech company that aims to redefine the auto repair industry. In this field, which reflects a 120 billion euro market in Europe alone, time seems to have stood still and disruption is long overdue. The repair process is time-consuming, inefficient, and involves numerous phone calls, emails, and physical inspections that are always the same — no matter what type of damage or vehicle is involved. However, modern vehicles are becoming more and more technically sophisticated, making repairs more complex. Not every workshop can do that. It therefore takes a tailored approach to find the right workshop.
Fixico provides a digital platform that makes vehicle damage repair seamless for drivers, insurers and fleet owners, and enables intelligent matchmaking for different types of vehicle damage and suitable repair shops. The platform provides a seamless and much more efficient repair assignment process. Customers can thus quickly and easily identify the best repair shop for their claim, taking into account critical factors such as availability, expertise and price.
Fixico currently works with over 150 leading companies in the fleet, rental, insurance and leasing industries. Through a cross-border and unique marketplace network, the platform provides access to more than 2,500 workshops. Fixico is currently represented in six countries: Germany, the Netherlands, Belgium, Luxembourg, France and South Africa.
“Last year was tough for the auto repair industry. But even in the midst of a global pandemic, Fixico was able to grow by 300%. This Series A round expansion gives us enough momentum to continue our growth trajectory and become the digital leader of the auto repair industry in Europe. In the next quarter, we will launch in three more European countries: Italy, Austria and Denmark. In all likelihood, we will add three to five more countries to our expansion plans after that, with the UK and Spain at the top of our wish list. We are very excited to now have Mundi Ventures on board, as they have tremendous knowledge and access to a vast and cross-border insurance and mobility network,” says Derk Roodhuyzen de Vries, CEO and co-founder of Fixico.
Simon Rothman becomes new member of the Executive Board
Upon completion of the financing round, Simon Rothman will be appointed to Fixico’s Supervisory Board. Rothman is known as an early pioneer of online marketplaces and network effect companies. He joined eBay when it was still a small U.S. auction house for collectibles and helped scale the company to nearly 200 million users and generate more than $40 billion in annual revenue.
During his time at eBay, Rothman founded eBay Motors. Within six years, he built eBay Motors into a global company with annual sales of 14 billion U.S. dollars and made it the world’s number one automotive marketplace.
Simon Rothman is a long-time angel investor and venture capitalist with a passion for marketplaces and mobility. Rothman served as an early stage board member at Tesla, Cargurus, Convoy and Nuro. He is also an advisor and/or angel investor in successful technology companies such as Lyft, Lime, Getaround, Aurora, Fiverr and Poshmark.
“During my time at eBay Motors as well as at Tesla, I personally developed a great passion for marketplaces and mobility. It is now a unique opportunity to find a company as promising as Fixico, which sits at the intersection of the marketplace and the mobility sector. From my perspective, Fixico’s use of network dynamics to connect repair shops with vehicle owners has the potential to fundamentally change the auto repair industry,” explains Simon Rothman as a newly appointed member of Fixico’s supervisory board.
Fixico (https://fixico-business.com/de) is Europe’s leading repair management platform for car damage. Since its founding in 2014 by Derk Roodhuyzen de Vries, the portal has helped car owners and business partners quickly and conveniently find the ideal repair shop for their car and save on repair costs. Fixico thus digitizes and simplifies the entire repair management process for fleet, car rental, insurance and leasing companies. Working with over 150 leading companies and a network of more than 2,500 master craftsmen, the Dutch company offers stress-free, fast repairs and competitive prices. More than 200,000 claims have already been settled via the comparison platform throughout Europe. The 60-strong team already enables hundreds of companies — including partners such as LeasePlan, AXA, Avis, Sixt and Aon — to handle car repairs more efficiently and cost-effectively in 6 countries (Germany, the Netherlands, Belgium, Luxembourg, France and South Africa) and continues to expand across Europe. Fixico is supported by a group of leading investors.
About Mundi Ventures
Mundi Ventures is a venture capital firm that invests primarily in technology-based companies with B2B business models during the A or B round. The VC’s headquarters are located in Madrid. There are branches in Barcelona, London and Seattle.