# Virtuo Technologies, Société par Actions Simplifiée

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/virtuo-technologies-societe-par-actions-simplifiee

- Industry: Transportation Services
- Headquarters: France
- Website: www.govirtuo.com
- Total disclosed funding: $94M
- Latest round: Series C (May 20, 2021)
- Investors on record: 8

## About

Virtuo Technologies is a digital car rental service that simplifies the vehicle booking process through a mobile application, providing a seamless, contactless experience for customers across Europe.Founded in 2015 in France, Virtuo Technologies operates as a car rental company offering a fully digital platform. The founders, Karim Kaddoura and Thibault Chassagne, have positioned the company to leverage technology in the vehicle rental market. The company has successfully raised EUR 50.00 mn in its most recent funding round, which is part of a total of EUR 80.00 mn raised. Its headquarters is located in Paris, France.Virtuo is a car rental company that leverages a fully digital platform to provide users with a seamless rental experience. Their core offerings include a mobile application that allows customers to book and unlock vehicles without waiting at rental counters, thus eliminating traditional rental hassles. Virtuo’s service includes 24/7 access to vehicle stations and the option for home delivery. The fleet comprises various high-quality car models, including notable brands such as Tesla, Mercedes, BMW, and Volkswagen, catering to diverse customer preferences ranging from electric to petrol vehicles. The primary end users are individual consumers and businesses seeking flexible, contactless transportation solutions across various European markets, including France, Spain, Germany, and the UK.Virtuo generates revenue through direct consumer transactions facilitated by its mobile application, which allows users to select and book vehicles on demand. The company's pricing structure is primarily based on a daily rental model, with costs varying according to the car model and rental duration. For example, rental prices can start from approximately EUR 24.78 mn per day for smaller models and can go up to EUR 54.92 mn per day for larger or premium vehicles. Customers have the flexibility to choose additional services such as insurance and roadside assistance, which can be added to their rental agreements at checkout. Virtuo also has a dedicated business segment that provides tailored solutions for corporate clients, allowing for centralized billing and simplified payment options, enhancing the overall user experience for business travel.In May 2021, Virtuo Technologies raised EUR 50.00 mn in Series C funding led by AXA Venture Partners, with participation from Alpha Intelligence Capital, Bpifrance, and Holding14. The company plans to utilize this funding to develop its technology and accelerate expansion across Europe, with a specific focus on growing its fleet of electric vehicles. Virtuo aims to enhance its service offerings and expand into new markets to meet increasing customer demands.

## Funding rounds

- Series C, May 20, 2021, $61M — IRIS, Balderton Capital, Bpifrance, AXA Venture Partners, RAISE, Holding14, Alpha Intelligence Capital
- Series B, Feb 11, 2019, $23M — IRIS, Balderton Capital, RAISE
- Series A, Sep 14, 2017, $8.9M — Balderton Capital
- Seed, Dec 1, 2015, $2M — Kima Ventures

## Investors

- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Seed
- Balderton Capital (https://capitalatlas.ai/funds/balderton-capital) — Series A, Series B, Series C
- IRIS (https://capitalatlas.ai/funds/iris) — Series B, Series C
- RAISE (https://capitalatlas.ai/funds/raise) — Series B, Series C
- Bpifrance — Series C
- AXA Venture Partners (https://capitalatlas.ai/funds/axa-venture-partners) — Series C
- Holding14 — Series C
- Alpha Intelligence Capital (https://capitalatlas.ai/funds/alpha-intelligence-capital) — Series C