# Vimcar

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/vimcar

- Industry: Software
- Headquarters: Berlin, Germany
- Website: www.vimcar.de
- Total disclosed funding: $19M
- Latest round: Series B (Dec 18, 2018)
- Investors on record: 5

## About

Based in Germany, Vimcar GmbH offers digital vehicle management solutions, enhancing fleet efficiency through innovative tools like a digital mileage log and GPS tracking systems.Vimcar GmbH, founded in 2014, operates from Berlin, Germany, specializing in fleet management solutions. The company was established by Lukas Weber, who has a background in entrepreneurship. In January 2023, Vimcar and Avrios International AG, both under Battery Ventures, merged to strengthen their fleet management offerings. The latest funding round, a Secondary Buyout amounting to EUR 135.00 mn, has raised a total of EUR 135.00 mn across 4 deals, with the most recent on January 12, 2023.Vimcar specializes in providing digital vehicle management solutions through its flagship products: the digital mileage log and live GPS tracking system, known as Fleet Geo. The digital mileage log automates trip documentation, ensuring compliance with tax regulations and reducing manual record-keeping effort. This product serves employed individuals, freelancers, and businesses managing fleets, with users potentially saving an average of EUR 2,758 per year. Fleet Geo enhances the mileage log by offering real-time vehicle tracking, allowing businesses to optimize routes and enhance fleet security. Vimcar's services target primarily German customers, with applicability in other European markets, supporting over 12,000 tax advisors who recommend these solutions.In 2023, Vimcar generated revenue of EUR 29,626,539.20, with an EBITDA of EUR 5,642,407.80. The company operates on a subscription-based pricing model, typically starting at EUR 17.90 per month per vehicle for the digital mileage log in the first contract year, increasing to EUR 24.90 in subsequent years. Additional platform fees apply based on user numbers, further enhancing revenue potential from larger clients.Vimcar's future growth strategy includes the recent merger with Avrios to develop a new fleet management solution, leveraging the strengths of both companies. This initiative aims to create comprehensive offerings that expand their market reach. The company is also exploring opportunities to penetrate new geographic markets across Europe, which aligns with its objective to broaden its customer base and service applications. Recent funding will support these initiatives, enhancing product development and market expansion efforts.

## Funding rounds

- Series B, Dec 18, 2018, $13M — Acton Capital, Unternehmertum Venture Capital, Atlantic Labs, Coparion
- Series A, Apr 4, 2017, $5.5M — Aglae Ventures, Unternehmertum Venture Capital, Coparion

## Investors

- Aglae Ventures (https://capitalatlas.ai/funds/aglae-ventures) — Series A
- Unternehmertum Venture Capital (https://capitalatlas.ai/funds/unternehmertum-venture-capital) — Series A, Series B
- Coparion (https://capitalatlas.ai/funds/coparion) — Series A, Series B
- Acton Capital (https://capitalatlas.ai/funds/acton-capital) — Series B
- Atlantic Labs (https://capitalatlas.ai/funds/atlantic-labs) — Series B