Creathor Venture leads € 2.6 million financing round in rental car comparison site HAPPYCAR
Previously, seasoned specialists from the travel sector like Swoodoo founder Wolfgang Heigl and Felix Schneider (Dreamlines founder) had invested in the rental car comparison site. As one of the fastest growing companies in the online travel industry HAPPYCAR is now active in five other European markets besides Germany: Netherlands, France, Spain, Italy and Poland.
"We are delighted that our investors trust us and are convinced of the success of our company. It enables us to further expand our established international business. In addition, it paves the way for entering further markets in the future. Furthermore, we are continuously working on improving our product to increase customer satisfaction and to increase transparency of our processes," says Robert Schütze, the CEO of HAPPYCAR leading the team since October 2015.
Cédric Köhler, Managing Partner at Creathor, adds: "Travel tech continues to be one of our targeted investment sectors. We have had great successes in the space in the past and are continually looking to back strong teams with novel ideas in the segment. HAPPYCAR fits very well into our strategy in that regard."
The web site specializes in the global comparison of offers and prices for rental cars. By using the broad partner network with more than 1,000 car rentals and brokers, the customer easily finds its desired rental car at the best price. This eliminates the time-consuming search for the best offer on the websites of each rental car provider. Numerous filter functions also help to adapt the rental car search to the client's needs.
"Creathor is gladly leading the new funding round, based on the impressive progress that HAPPYCAR has made since our initial investment. The company’s rapid international growth shows that the HAPPYCAR team is on its way to build a veritable European category leader," says Christian Weniger, Investment Manager at Creathor.
HAPPYCAR is one of Europe’s fastest growing online portals to compare the prices of rental cars. With more than 250 cooperation partners, the Hamburg-based company has one of the largest networks of partners in its industry. Customers save up to 60 % by comparing the offers of rental cars and additional services with the structured and transparent website. HAPPYCAR guarantees its customers the cheapest rental car at the time of booking. Besides Germany, HAPPYCAR offers its rental car comparison in another five countries.
The HAPPYCAR GmbH has been honored by two well-known German institutions in spring-time 2015. The company got the mark "good" (1.6) for its price-performance-ratio by the DtGV and N24. In May HAPPYCAR has been honored again for the price-performance ration with the mark "very good" by TÜV Saarland.
Creathor Venture Management GmbH
As a leading pan-European Venture Capital firm, Creathor Venture invests in technology-oriented companies and entrepreneurs. Creathor Venture focuses on Mobile, Digital Media, Cloud Technology, Internet of Things, Sharing Economy, Fintech. In Life Science it is E-Health, personalized medicine and Medtech. Regional focus is on Germany, Switzerland, Austria, France and the Nordics. The management team of Creathor Venture consists of the CEO Dr. Gert Köhler, Karlheinz Schmelig, Cédric Köhler and Dr. Aristotelis Nastos. The team has been investing successfully in the early-stage venture capital business for 30 years. During that time, the team has built more than 200 technology companies successfully, conducted more than 20 international IPOs and has achieved exceptional returns for fund investors and the financed entrepreneurs in the past, all in the position as lead investor. The current portfolio of more than 29 companies is actively supported in development, growth and internationalization by a team of 19 staff. Creathor Venture manages funds of more than EUR 180 million and holds offices in Bad Homburg (Frankfurt), Tutzing (Munich), Cologne, Zurich and Stockholm.
The investors of the current fund include the European Union, through which the fund receives funding from the "Competitiveness and Innovation Framework Programme" (CIP), and the "ERP EIF fund of funds" and the LfA - Gesellschaft für Vermögensverwaltung GmbH, both facilities of the European Investment Fund ("EIF"), fund of funds, family offices and entrepreneurs.
As the largest investor in Creathor the management underlines its entrepreneurial orientation.