Key Takeaways
- Carvoilà raised $20.0M (Series B) from BNP Paribas BNL Equity Investments, Nextalia sgr, Alkemia Capital sgr, The Techshop sgr, CDP Venture Capital sgr, Simest, Synergo Capital.
- Sector: Technology, Software & Gaming, Transport Infrastructure & Services (traditional).
- Geography: Italy, France, Spain, Germany, Austria.
Analysis
Italian automotive services scaleup, hlpy, has secured a significant €20 million funding round, combining equity and debt, to fuel its strategic expansion. This latest capital injection propels the company's total funding since its 2020 inception to approximately €45 million. The funding event is coupled with the strategic acquisition of Carvoilà, a Milan-based firm specializing in vehicle logistics and transportation.
The investment round sees the entry of BNP Paribas BNL Equity Investments (BBEI), the investment arm of the BNP Paribas group focused on Italian SMEs, acquiring a minority stake in hlpy. This strategic partnership underscores the growing confidence in hlpy's innovative model within the European automotive assistance sector. The company's existing investor base, including prominent names like Nextalia sgr (through Nextalia Ventures), Alkemia Capital sgr, CDP Venture Capital sgr, and The Techshop sgr, continues to support its growth trajectory.
This latest funding follows a substantial Series B round of €18 million in 2024, which was instrumental in hlpy's previous acquisition of German roadside assistance operator HESA Solutions-MySchleppApp. Prior to that, in November 2022, hlpy raised nearly €7.5 million through a Series A round led by Synergo Capital, with participation from CDP Venture Capital and The Techshop, alongside convertible instruments and debt financing.
The acquisition of Carvoilà marks a pivotal moment for hlpy, expanding its service offering beyond digital roadside assistance and vehicle repair management. Carvoilà, founded in 2018 by Francesca Vidali and Michela Conti, operates a proprietary platform connecting over 3,000 drivers with dealerships, rental companies, and fleet operators for vehicle pick-up and delivery services across more than 90 Italian cities. This integration positions hlpy to evolve into a comprehensive automotive services ecosystem, leveraging technology, data, and an expanded operational network.
Founded in 2020 by Valerio Chiaronzi, Graziano Cavallo, Enrico Noseda, and later joined by Stefano Sarti, hlpy has rapidly established a digital platform connecting motorists, customer care, and service networks. The company currently operates across Italy, France, Spain, Germany, and Austria, managing a network of over 20,000 roadside assistance vehicles, workshops, and tire centers. The integration of Carvoilà's logistics capabilities is expected to significantly enhance its service delivery and market reach.
With this latest capital infusion and strategic acquisition, hlpy is poised to further solidify its European presence. The company aims to achieve over €100 million in recurring revenue by 2027, driven by its integrated approach to automotive services. The expansion into vehicle logistics complements its existing strengths in roadside assistance and maintenance, creating a more robust and attractive offering for business clients in the automotive sector, a market segment experiencing increasing demand for streamlined digital solutions.