So far, many companies still rely on manual solutions for managing their fleet.
(Photo: imago/Jürgen Ritter)
Berlin The US investor Battery Ventures takes over the Berlin-based start-ups Vimcar and Zurich-based Avrios, which specialize in fleet management, and merges them. The deal, which became known on Thursday, creates a clear number one in the German-speaking area, said Vimcar founder Andreas Schneider to the Handelsblatt. According to company circles, the purchase price for both companies should be around 200 million dollars.
Further acquisitions are planned. “In the medium term, a European market leader is to emerge,” says Schneider, who will remain in the company as a shareholder even after the takeover. Webfleet, which belongs to the tire manufacturer Bridgestone, is currently the largest provider in Europe.
Zak Ewen of Battery Ventures justifies the investment with the significant growth potential in the market: “More and more companies are choosing to digitize their fleet operations to meet rising labor and fuel costs, drive fleet electrification and comply with regulations in a constantly changing regulatory environment.”
So far, many companies still rely on manual solutions for managing their fleet. However, analysts from Berg Insight expect that around 22.5 million fleet management systems will be installed in Europe by 2025. According to estimates, there are currently more than 40 million commercial vehicles and more than 22 million commercial passenger cars in Europe.
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Vimcar offers software solutions for fleet management, with which, for example, a digital logbook can be kept via app, vehicles can be localized or managed in real time. Customers include craftsmen and nursing services. Avrios has so far focused more on issues such as cost management and document management – compared to Vimcar, even for larger customers who have a fleet of more than 100 vehicles.
The Vimcar founder will remain in the company as a shareholder even after the takeover.
(Photo: Vimcar)
Avrios boss Francine Gervazio is certain that the merger will result in synergies. Schneider wants to offer a complete solution soon: “We will start with the integration shortly.”
According to their own statements, Vimcar and Avrios operate profitably
Together, both companies employ more than 250 people and manage more than 250,000 vehicles. “That’s very big – not only in comparison to the direct competition in the software sector, but also in relation to the entire fleet market,” says Schneider, referring to lessors. Avrios customers include Flaschenpost, Hofbräu Munich and Tee Gschwendner.
According to Schneider, both companies work profitably: “Both Vimcar and Avrios no longer burn investor money and invest very sustainably in growth. It was exciting to see that this was very important for Battery Ventures to get involved in the first place.”
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