Amsterdam, 23-03-2021 – Fixico, Europe’s leading digital car repair management platform, announces a €5 million extension to its Series A round, closing the total at €12 million. Autotech Ventures led the round, and additionally, all existing shareholders actively participated. In addition, Fixico welcomes Madrid-based Mundi Ventures to its investor base. To date, Fixico raised €19.3 million in total. The new funds will accelerate Fixico’s product development, strengthen its core markets’ footprint and help expand across Europe.
Fixico is a fast-growing and award-winning Dutch tech company that aims to redefine the car damage repair industry. In today’s car damage repair space, a 120 billion-euro market in Europe alone, disruption is imminent. The repair process is time-consuming and inefficient, involving numerous calls, emails, and physical inspections in a one-size-fits-all procedure. But as modern vehicles become more advanced and complex to repair, their owners need a customised approach to find the right body repair shop.
The Dutch technology company offers a digital platform that seamlessly handles car damage repairs for drivers, insurers, and fleet owners and enables smart ‘matchmaking’ between types of car damage and body repair shops. Fixico’s platform ensures a seamless and significantly more efficient repair allocation process, allowing customers to quickly identify the most suitable body repair shop for the job while taking critical factors such as availability, expertise, and price into consideration.
Fixico currently works with over 150 leading companies in the fleet-, rental-, insurance- and leasing industry. The platform gives access to more than 2,500 body repair shops via a cross-border and unique marketplace network. Fixico is currently active in six countries: the Netherlands, Belgium, Luxembourg, France, Germany, and South Africa.
"Last year was a tough one for the car damage repair industry. But even amidst a global pandemic, Fixico grew 300%. This Series A round extension gives us the firepower to continue our growth trajectory and become the European digital leader of the car damage repair industry. Next quarter, we’re launching in three more European countries: Italy, Austria, and Denmark. In all likelihood, we will add three to five countries to our expansion plans soon, with the UK and Spain at the top of our wishlist. We are thrilled to now have Mundi Ventures on board, as they bring knowledge of and access to a vast and cross-border insurance and mobility network." - Derk Roodhuyzen de Vries, CEO and co-founder of Fixico.
Rothman is known as an early pioneer of online marketplaces and network effect businesses. He joined eBay when it was a small US collectables auction business and helped scale the company to nearly 200 million users, generating over $40 billion in annual sales.
While at eBay, Simon was the Founder of eBay Motors. Within six years, he built eBay Motors into a $14 billion-a-year global business, making 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. Simon served as an early-stage Board Director at Tesla, Cargurus, Convoy, and Nuro. Furthermore, he is an advisor of and/or angel investor in successful technology companies such as Lyft, Lime, Getaround, Aurora, Fiverr, and Poshmark.
“During my past tenures at both eBay Motors and Tesla, I've personally become extremely passionate about marketplaces and mobility. It's a unique opportunity to find such a compelling company as Fixico that sits at the intersection of a marketplace within the mobility sector. From my perspective, Fixico’s use of network dynamics to connect repair shops with vehicle owners has the potential to transform the car repair industry fundamentally.” - Simon Rothman, newly appointed Supervisory Board Member of Fixico.
Fixico is Europe’s leading digital car repair management platform. On a mission to reshape the industry’s ecosystem, Fixico connects drivers, businesses, and body repair shops in entirely new ways. Its digital expertise and pioneering approach improve the repair handling process from every perspective; drivers experience an effortless repair journey, businesses increase operational efficiency, and body repair shops optimise their workshop utilisation. Fixico gives access to a marketplace with a network of over 2,500 body repair shops across six countries. A group of world-class investors backs Fixico, and its services are trusted by more than 150 leading fleet-, lease-, rental- and insurance companies.
Mundi Ventures is a Venture Capital firm focused on technology-based companies, with a primary emphasis on Insurtech and B2B business models raising their Series A or B rounds. The fund’s headquarters is located in Madrid, but they also have an operational presence in Barcelona, London, and Seattle.