The French startup Virtuo are making a splash in the car rental market, targeting business people in particular. The online company are going to be able to expand their operations and develop thanks to an initial round of investment.
The car rental market continues to reinvent itself. Following Drivy, which targets private individuals, comes Virtuo, a company with high hopes of improving the experience of businesspeople on the move.
Accompanied by the firm Walter Billet, the startup has raised almost two million euros from a pool of private investors. Among the latest to invest in Virtuo we find renowned venture capitalists Kima Ventures, as well as the angels Thibaud Elzière, the founder Fotolia; David Amsellem, the founder of John Paul as we as Resto-in and Stuart founder Clément Benoît.
Traditional players such as Hertz, Avis, Sixt and so on rely on a extensive physical network to attract travellers. Virtuo, on the other hand, offer a completely virtual service without a single physical point of contact. No longer do you need to go to a counter to get your car key, everything is dealt with through a smartphone application. Unlocking and starting the car with your cellphone are fast and simple. Even the inspection takes place in perfect autonomy.
Karim Kaddoura, who co-founded Virtuo with Thibault Chassagne, was buoyant when commenting on the amounts raised during the initial fundraising. “The objective of this fundraising was to boost the funds of this tech company which is in the process of reinventing how we rent cars as part of an ambitious project that aims to see Virtuo become a trailblazer at European level.
Fundraising adviser: Fabien Billet, partner, Walter Billet Avocats