Fixico raises €7M from Silicon Valley-based Autotech Ventures to further digitalize the car damage repair industry
AMSTERDAM, Netherlands – Fixico, an innovative online platform for car damage repair, has raised €7 million to grow its international footprint and fleet and insurance partnerships. The Dutch technology company offers a digital platform that seamlessly handles car repair for consumers, insurers, and fleet owners, providing them full control at every step in the repair process.
The €7M funding round was led by Autotech Ventures, an early backer of Nasdaq Stock listed Lyft (LYFT), a top competitor of Uber (NYSE: UBER), and other successful startups like Frontier Car Group and Outdoorsy. Autotech Ventures’ Managing Partner Alexei Andreev joins Fixico’s Supervisory Board. Previous investors, such as serial entrepreneur Laurens Groenendijk (JustEat, Treatwell, Hiber) and Orange Growth Capital also participated in this round, bringing the total amount of funding to €14.3M to date.
Fixico is currently active in the Netherlands, Belgium, Germany, and South Africa, working with one of Europe’s largest independent, high-quality networks of more than 2,000 repair shops in total. Thanks to a strong foothold in the consumer space, Fixico made its first decisive steps in the international business-to-business market in 2018 and now is poised to rapidly scale up further across Europe. Autotech’s (et al) fresh capital and its global network of transportation corporate partners will be employed to accelerate this growth and strengthen Fixico’s B2B solutions.
Fully digitized way to handle car damage repair.
“In the car damage repair space, it seems as if time has stood still. The driver’s customer journey is still inconvenient and time-consuming. It involves numerous calls, emails, physical inspections, and so on. Yet today’s consumer expects a seamless experience, via a few simple clicks, like booking a taxi or a hotel,” said Derk Roodhuyzen de Vries, CEO of Fixico. “With Fixico, we offer an innovative and fully digital way to handle car damage repairs. Fleet and insurance partners use our platform as an intelligent repair tendering/ steering mechanism, to lower costs and cycle times and gain real-time insights.”
Fixico has seen an impressive uptake in fleet and insurance partners, and among many others, international players as AXA and AON are already using the platform to offer a fully-digital damage handling proposition to their customers.
“With Autotech Ventures, we have a unique partner on board that will empower us to become a top European player in the digital damage repair space,” said Derk Roodhuyzen. “It’s a great acknowledgement for the team that such a global industry expert is backing us. Their unparalleled network and deep knowledge of the mobility industry creates the perfect conditions for us to scale up fast. We are looking forward to working closely together, as this marks a clear milestone and propels us into a completely new phase in our company’s story”.
“We’re continuously looking for promising companies in the mobility sector globally, and believe that the model across the value chain that Fixico is building has the potential to change a multi billion market. The team is outstanding and we are looking forward to supporting Fixico’s international expansion and building a global category winner,” said Alexei Andreev, Managing Partner at Autotech Ventures.
Fixico is a fast-growing and award-winning Dutch tech company that aims to redefine the car damage repair industry. Operating from our headquarters in Amsterdam, Fixico provides end-to-end solutions for insurance, fleet and rental companies, and collaborates with over 2,000 high-quality repair shops. Fixico is currently active in the Netherlands, Belgium, Germany and South Africa. For more information, https://fixico-business.com/
About Autotech Ventures
Autotech Ventures is a Silicon Valley-based venture capital firm who aims to generate financial returns by helping passionate entrepreneurs to deploy revolutionary transportation technologies and business models. We provide startups with capital, ground transportation market intelligence, and access to our transportation sector network which includes our corporate investors representing a global market capitalization of over $500B. As a lead or follower investor, we leverage our deep industry network to help our portfolio companies recruit transportation-specific talent and engage corporations as their scale-up partners. Autotech Ventures’ portfolio can be found at (http://autotechvc.com/portfolio/).
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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 2,000 body repair shops across six countries. A group of world-class investors backs Fixico, and its services are trusted by more than 100 leading fleet-, lease-, rental- and insurance companies.
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