Exit Vimcar: Acton Capital sells stake in mobility company to US financial investor Battery
Berlin/Munich, January 12, 2023 – Four years after the initial investment, Acton Capital sells its stake in Berlin-based mobility company Vimcar. While the European fleet management market is in upheaval, companies need digital solutions to implement EU regulations and remain competitive. US financial investor Battery Ventures invests in two complementary cloud software companies for a growing market: Avrios and Vimcar. As part of this transaction, Acton Capital is selling all shares in Vimcar GmbH. Vimcar founders Andreas Schneider and Christian Siewek will remain as shareholders of the new company.
Capital-efficiency from the very beginning: Acton Capital invested in Vimcar in December 2018 as lead investor of Vimcar’s Series B financing round. The goal of the capital increase at that time was the evolution from a driver’s logbook app to an integrated software provider for small and medium-sized companies SMEs. Achieving this goal within four years, and with the international consolidation underway, Vimcar is now starting the company’s next chapter.
“We were very impressed by the way Vimcar grew both, its established business and the new segment, despite the Corona crisis. The team around the founders Andreas Schneider and Christian Siewek has succeeded in bringing a convincing product to market while achieving far above-average customer satisfaction,” says Dominik Alvermann, Partner at Acton Capital.
“At the same time, they have demonstrated unusually high capital efficiency on this growth journey, so that with this transaction the total capital invested will be returned more than 10-fold.”
Dominik Alvermann, Acton Capital
European companies with their own vehicle fleets are facing considerable challenges: They have to ensure mobility, cope with rising operating costs, meet CO2 reduction targets and manage the switch to electric mobility, all at the same time. The variety of these tasks can hardly be managed efficiently with manual processes. Digital fleet solutions are therefore a growth market. Vimcar from Berlin and Avrios from Zurich offer complementary software solutions for fleets. With these applications, fleet management can be consistently digitalised, operating costs optimised, emissions reduced and vehicles located. In addition, user companies can meet all regulatory requirements and save taxes. Together, the two companies employ over 250 people and serve tens of thousands of customers with over 250,000 vehicles throughout Europe from a wide range of industries such as construction, technical field service, healthcare, or production and administration.
“We believe that in the new constellation with Battery and Avrios, Vimcar is very well positioned to grow further in the European fleet management market. We wish them well and continued success in the new constellation”, adds Christoph Braun, Founding Partner at Acton Capital.
“The partnership with Battery and Avrios puts us in a joint position to serve more than 250,000 vehicles in Germany, Austria and Switzerland with a unique mix of telematics and software, and to create a
powerful, pan-European service in the medium term.”
Christian Siewek, Vimcar.
“We would like to thank our investors on the growth path so far, Atlantic Labs, UVC, Coparion and Acton Capital. Everyone has played an important part in achieving this major milestone,” says Andreas Schneider, co-founder and co-CEO at Vimcar.
Vimcar, a Berlin-based scale-up company, is a leading provider of fleet management software solutions for small and medium-sized enterprises with fleets of up to 200 vehicles. The SaaS solutions cover all aspects of fleet management – from real-time tracking to theft alerts and route planning. The company’s own market-leading digital driver’s logbook meets all the requirements of the tax authorities in the DACH region. More than 60,000 customers already drive with Vimcar’s award-winning software. Among them are Deutsche Bahn, Allianz, Free Now, Knauf, Koziol and Nippon Seiki.