2021 is being the year of Bipi. The long-term car rental startup had been generating good numbers long before the pandemic. The regulations on diesel cars and the uncertainty of the automobile market sat the Spanish platform very well. COVID-19 and the increase in interest in private cars were decisive. This materialized in a round in early 2021 of 16.5 million. Now Bipi, as I anticipated The confidential a few days ago, it announced its sale to the Renault Group.
For 100 million euros, the vehicle subscription startup is already part of RCI Bank & Services. Which is the financial entity of the automobile group.
With this, one of the most successful technology companies in Spain passes into French hands in another of the exits of a 2021 record for this type of operation. Along with Returnly, Deporvillage, Holded or Capchase, Bipi is already in the group of those that has passed to the next phase. Likewise, on the financing side it is also being a star year: more than 2,000 million euros in rounds, double than in 2020.
Subscriptions and much more for Bipi
Bipi, which already operated in France, consolidates its presence in the Gallic country and ensures expansion throughout the rest of the European geographies.
The agreement with a large automobile group was part of Bipi’s plans. At least in the medium term. It was a way to go around a market in which private car sales are not going through their prime; with or without aids. With a young audience without a tendency to own a car, the idea of Bipi for subscription cars – following the Netflix model and under the all-inclusive system – was more than interesting. Especially for multinationals in the sector that are still looking for their place.
In this way, Bipi will be integrated into Mobilize. Renault’s mobility division to create loyalty offers. For its part, the Spanish startup will create flexible subscription offers based on new forms of mobility for the firm. This, they point in a statement, supposes “a strategic challenge to invest in this recent and dynamic market for the group, particularly in the service of future offers proposed by the Mobilize brand”.
In parallel, Renault will continue to exploit the Bipi brand throughout the continent with its used car rental service from the brands that the platform has at its disposal.