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Fixico closes €12 million Series A financing round

Photo: Fixico is a leading digi­tal plat­form for car repairs
24. March 2021

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.

About Fixico
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.

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