hlpy, a leading Italian scale-up in full digital services for mobility and vehicle assistance, has successfully completed a Series B capital raise of €18 million aimed at strengthening its growth process in major European markets and acquiring a leading operator in Germany in digital roadside assistance: HESA Solutions GmbH – MySchleppApp.
The operation was co-led by Nextalia SGR through the Nextalia Venture fund and the current partner Sinergia Venture Fund of Alkemia Capital SGR, with the participation of all major shareholders of hlpy, including The Techshop SGR, CDP Venture Capital – fondo Corporate Partners I, ServiceTech, and Simest. The Series B consists of 80% capital increase and 20% long-term financing provided by credit institutions.
Thanks to this financial injection, hlpy accelerates its international expansion plan and announces its first M&A operation in Europe with the acquisition of 100% of the capital of HESA Solutions GmbH, commercially known as MySchleppApp, one of the leading digital roadside assistance companies in Germany and Austria, with annual growth rates exceeding 130%.
The acquisition of MySchleppApp allows hlpy to consolidate its position as the primary European operator of full-digital roadside assistance, offering its services not only in Italy, France, and Spain but also in Germany and Austria. These services include assistance, repair, and vehicle maintenance through the use of a software platform based on machine learning and artificial intelligence. MySchleppApp delivers its services through a network of over 1,500 partners on the ground, with operations and a technology platform that integrate well with hlpy’s.
Since its market entry in February 2021, hlpy has handled over 550,000 assistance requests and, following the acquisition, expects to triple the volumes of fiscal year 2023, projecting a positive EBITDA.
“This operation,” explained Valerio Chiaronzi, CEO of hlpy, “supported by leading investors, strengthens hlpy’s leadership in the European market for digital car assistance. The capital increase reflects our shareholders’ confidence in hlpy’s growth path, which recorded a revenue increase of 157% in 2023 compared to 2022, and this year will also grow by triple digits. Despite exponential organic growth, we saw the opportunity presented by MySchleppApp as the right one to seize to enter an important market like Germany and clearly mark our growth trajectory and future: to become a leader in mobility services, redefining the rules and standards in roadside assistance, as well as in vehicle repair and maintenance, without any geographical limits. We are excited to welcome the MySchleppApp team, with whom we have formed a unique synergy from day one, thanks to shared corporate values, an operational model, and a technological approach aligned with our vision.”
hlpy was born in Milan in May 2020 with the aim of reinventing vehicle assistance. Thanks to its innovative digital platform, hlpy aims to create value for insurance companies, car manufacturers, rental companies, rescue operators, and, above all, to make the service more reliable and secure for end users.
“We are proud and excited to join the hlpy group,” added Santosh Satschdeva, CEO of HESA Solutions GmbH. “The integration between hlpy and MySchleppApp represents the union of two of the most technologically advanced entities in the vehicle assistance sector in Europe, with the common goal of providing our commercial partners and drivers with a superior customer experience, while also reducing operational costs and vehicle downtime. Together, we can expand a unique service model without any geographical barriers, accelerating the growth of the network and customer base.”
Read the orginal article: https://www.eu-startups.com/2024/09/milan-based-hlpy-raises-e18-millions-series-b-to-grow-in-the-vehicle-assistance-sector-in-europe/
