Car sharing startup Snappcar took over its Danish competitor Minbildinbil, a necessary step in becoming the European market leader.
The undisclosed amount of money for the acquisition comes from Danish VC Founders, which took a minority stake in Snappcar at a 9,3 million euro valuation. The VC previously invested in Minbildinbil.
Snappcar vs. Drivy
Snappcar has a battle to play against competitor from France Drivy. That startup also acquired its competitor, Buzzcar, this month. “It’s about who becomes the biggest in Europe”, founder Pascal Ontijd told NRCQ.
At this point Drivy is far ahead when it comes to the number of users and cars. According to NRCQ the difference will be made in Germany, a large market where both Snappcar and Drivy are active. However, Germany is crowded with car sharing services.
Photo by rabbit00 (Creative Commons via ABSFreePic)