Flexcar: Secured new funding of € 210 million

New funding of 210 million euros, with the participation of the reputable fund Fasanara Capital based in London, was secured by FlexCar. This new funding comes just months after 50m euros were raised by domestic and international institutional investors.

It is recalled that George Desyllas, one of the founders of FlexCar, was distinguished in the Forbes Under 30 Greece 2021 list.

According to a relevant announcement, the new round of financing concerns investment both in the form of loans and in the company’s own funds, with Fasanara Capital being added to the shareholding structure of FlexCar, next to existing leading institutional investors such as SeayaVentures, ArenaInvestors, Vent , Uni.Fund and FrontlineVentures.

Investments over 100 million euros

It is noted that FlexCar has already invested over 100 million euros in the markets where it operates, having managed in just 3 years to increase its turnover eightfold and establish itself as a profitable company. More specifically, in addition to its presence in Greece and Cyprus, last November it made a dynamic entry into Italy – one of the largest markets in Europe – which is growing at three times the rate compared to Greece.

At the same time, the new funds raised in this round of financing, will be invested entirely in the international expansion of the brand to 2 more continents within the next 12 months, aiming to become the world leader in the field of flexible leasing. In addition, the company has proceeded to the creation of FlexCarHub in Greece, from where it can provide seamless support and the necessary services for its international development, while it is estimated that by the end of 2022 the majority of new leases will be made outside Greece.

FlexCar customers enjoy a simple, accessible and all-inclusive service of absolute flexibility and quality service, paying only a fixed monthly rent which covers road tax, gross insurance, vehicle maintenance and repair costs, everything except fuel. It should be noted that the plans of the management team include the gradual integration of new innovative products within the framework of the “Flex” philosophy, which will enrich the offered solutions of the company.

The FlexCar group currently employs more than 150 specialized executives in Greece, Cyprus and Italy, while at the end of 2021 it proceeded with the acquisition of modern office buildings in Athens and Rome, in order to serve the hospitality needs of its growing number of employees. . In addition, the company remains faithful to its commitment to further create quality jobs in the fields of operations, marketing, technology and finance, aiming to double its talented human resources by the end of 2023.

George Bizas, Co-Founder and President of FlexGroup, said: “The rapid growth of financial indicators and the huge public acceptance, confirm that our service solves a real problem in the mobility market. The new funding allows us to spread our wings. “We are very pleased that an investor like Fasanara Capital is actively investing in the realization of our vision.”

George Desyllas, Founder and CEO of FlexCar added: “With this investment we become global. Our first goal is the perfect service for our customers. I feel blessed to be under the roof of the Holy Cross and my Father, Papadis in Lycabettus and I thank our team and all the investors, for their support and trust to achieve the international top, which is very rare for a Greek company “.

On behalf of Fasanara Capital, Francesco Filia, CEO, commented: “The flexible lease model represents an innovative sector of the Fintech ecosystem, which will gradually replace the concept of traditional ownership, supporting the more efficient use of resources in “It is our great pleasure to accompany the FlexCar team on this journey as a companion.”