Top 12 Online Car Rental Investors in the Nordics
Top 12 Online Car Rental Investors in the Nordics
The online car rental industry in the Nordics is growing as tech-savvy consumers increasingly seek convenient mobility solutions. Companies here offer a range of services from traditional rentals to car-sharing and subscription models. Notably, mobility startups are emerging, driven by a focus on sustainability and urban living. This shift is stirring collaborations between tech firms and traditional rental companies. As eco-friendly options gain traction, electric vehicle rentals are gaining appeal. In Sweden, Norway, Denmark, Finland, and Iceland, the potential for innovation and enhanced consumer experiences is ripe, reflecting an exciting future for this industry.
The investors in this list include prominent venture capital and private equity firms headquartered in Stockholm, Copenhagen, Oslo, and Helsinki. Founded between 1936 and 2019, these firms vary in size from small teams to large corporate entities with thousands of employees. In 2024, these investors executed a total of 55 deals in various stages, showing their active involvement in the thriving online car rental industry. This diverse mix of established and emerging investors signifies a robust interest in innovative mobility solutions in the Nordic regions.
Top 12 Online Car Rental Investors in the Nordics
1. VNV Global AB
- Website: vnv.global
- Type: Venture Capital
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1996
- Headcount: 1-10
- Number of deals in 2024: 1
- LinkedIn: vostok-new-ventures-ltd
VNV Global AB is a venture capital investment firm based in Stockholm, Sweden, founded in 1996. The firm focuses on providing capital and expertise to innovative companies across various sectors, including Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, emphasizing long-term profitability and strong market positions. Notably, VNV Global has been involved in significant transactions in the mobility sector, such as leading funding rounds for BlaBlaCar, a prominent carpooling and transportation platform, which raised $115 million in 2021 and $200 million in 2015 with participation from VNV Global. Additionally, they have invested in Gett, a taxi-hailing service, further showcasing their interest in transportation solutions. Their involvement in these companies highlights their commitment to the mobility sector, making them a relevant player in the online car rental industry.
2. Kinnevik
- Website: kinnevik.com
- Type: Venture Capital
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1936
- Headcount: 11-50
- Number of deals in 2024: 10
- LinkedIn: investment-ab-kinnevik
Kinnevik is a Stockholm-based venture capital investment company founded in 1936. They focus on partnering with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech. Kinnevik provides both capital and operational support to help companies scale and create long-term value. Notably, Kinnevik has invested in Vay, a Berlin-based online car rental service that raised $95 million in a Series B funding round to launch its fleet in Hamburg. This investment highlights Kinnevik's interest in the online car rental industry, alongside their broader strategy of redefining industries and addressing global challenges through strategic investments. Additionally, Kinnevik has been involved in other marketplace-related investments, such as Wimdu and Omio, which further demonstrates their engagement in sectors that intersect with travel and transportation.
3. Schibsted
- Website: schibsted.com
- Type: Corporate
- Headquarters: Oslo, Oslo, Norway
- Founded year: 1839
- Headcount: 5001-10000
- Number of deals in 2024: 3
- LinkedIn: schibsted-asa
Schibsted Media Group, founded in 1839 and based in Oslo, Norway, is a corporate investor primarily focused on the digital marketplace sector. The company has transitioned from traditional publishing to empowering users through various digital services, including classified ads and second-hand goods. Notably, Schibsted has made significant investments in the automotive sector, which is relevant to online car rentals. They acquired Blocket AB, a leading classifieds platform, and LeBoncoin.fr, a major classifieds site in France, which includes automotive listings. Their acquisition of AutoVex, a Finnish used car auction marketplace, further highlights their commitment to the automotive market. Additionally, their stake in Car & Boat Media, which operates automotive-related platforms, reinforces their strategic interest in this sector. Overall, Schibsted's investments position them as a key player in the digital automotive marketplace, making them relevant to the online car rental industry.
4. Heartcore Capital
- Website: heartcore.com
- Type: Venture Capital
- Headquarters: Copenhagen, Denmark
- Founded year: 2007
- Headcount: 11-50
- Number of deals in 2024: 17
- LinkedIn: heartcorecapital
Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and emphasizes building long-term relationships with entrepreneurs. Heartcore has been involved in several notable transactions, including investments in Roadsurfer, a vehicle rental company, and FINN, a car subscription platform that raised significant funding in multiple rounds, including $110 million in a Series B round in 2022. These investments highlight Heartcore's engagement in the online car rental and mobility sectors, showcasing their commitment to supporting innovative solutions in transportation.
5. IDC Ventures
- Website: idcventures.com
- Type: Venture Capital
- Headquarters: Copenhagen, Denmark
- Founded year: 2019
- Headcount: 11-50
- Number of deals in 2024: 2
- LinkedIn: idcvc
IDC Ventures is a venture capital firm based in Copenhagen, Denmark, founded in 2019. The firm specializes in fintech and marketplace investments, partnering with family offices and professional investors to provide diversified investment opportunities. IDC Ventures focuses on supporting industry-defining founders and engages in active portfolio management and advisory services, leveraging its extensive network and expertise to drive growth in innovative companies. Notably, IDC Ventures has invested in Bipi, a Spanish car-as-a-service marketplace startup, participating in both its Series A and Series B financing rounds. This involvement highlights their commitment to the online car rental sector, as Bipi aims to expand its services across Europe, including France. Additionally, IDC Ventures has a diverse portfolio, including investments in companies like Boatsetter and Bob W, showcasing their broad investment strategy while maintaining a foothold in the car rental industry.
6. Nordic Eye Venture & Growth Capital
- Website: nordiceye.com
- Type: Venture Capital
- Headquarters: Copenhagen, Denmark
- Founded year: 2016
- Headcount: 11-50
- LinkedIn: nordic-eye
Nordic Eye Venture & Growth Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2016. The firm specializes in investing in growth companies within the technology and lifestyle sectors, providing capital and strategic support to startups to help them scale and achieve market fit. Nordic Eye has been involved in several notable transactions, including a $2 million investment in CarBlip, a mobile app aimed at revolutionizing the car-buying experience by allowing users to negotiate vehicle purchases online. This investment highlights their interest in the automotive sector. Additionally, they have invested in companies like Donkey Republic, which operates in the mobility space, and LuggageHero, which focuses on luggage storage solutions. These transactions reflect Nordic Eye's commitment to supporting innovative companies that leverage technology to enhance user experiences in transportation and related fields.
7. Seed Capital Denmark
- Website: seedcapital.dk
- Type: Venture Capital
- Headquarters: Frederiksberg, Frederiksberg, Denmark
- Founded year: 2004
- Headcount: 1-10
- Number of deals in 2024: 5
- LinkedIn: seed-capital-denmark
Seed Capital Denmark is a venture capital firm based in Frederiksberg, Denmark, founded in 2004. The firm specializes in providing seed funding and advisory services to technology startups, particularly in sectors such as SaaS and Fintech. With a strong track record of successful investments, Seed Capital supports its portfolio companies from seed stage to exit. Notably, they have invested in GoMore, a platform that raised approximately $1.8 million in a venture round in 2014, which focuses on car sharing and rental services. This investment highlights their engagement in the mobility sector, aligning with the online car rental industry. Additionally, they have participated in various funding rounds for other startups, showcasing their commitment to fostering innovation and growth in diverse technology-driven markets.
8. Etraveli Group
- Website: etraveligroup.com
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 2000
- Headcount: 1001-5000
- LinkedIn: etraveli-group
Etraveli Group AB, founded in 2000 and based in Stockholm, Sweden, is a prominent online travel agency that operates multiple brands, including MyTrip and GoToGate. The company provides a comprehensive tech platform for selling flights, accommodations, and car rentals, serving millions of consumers and businesses globally. Etraveli Group has made several strategic acquisitions to enhance its market presence, including the acquisition of Gotogate AS in 2009, Travelstart in Europe in 2010 for approximately $696 million, and the Canadian companies TripStack and Flight Network in 2019. These transactions reflect Etraveli's strategy to expand its offerings and strengthen its position in the travel industry, including the online car rental market.
9. Norvestor
- Website: norvestor.com
- Type: Private Equity
- Headquarters: Oslo, Oslo, Norway
- Founded year: 1989
- Headcount: 11-50
- Number of deals in 2024: 3
- LinkedIn: norvestor-equity-as
Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability and invests across various sectors, including IT services and property maintenance. Notably, Norvestor acquired Hertz, a leading car rental company, in 1997, which highlights their historical engagement in the online car rental industry. Additionally, they have made investments in other sectors, such as Etraveli, a travel agency, and Nordic Camping & Resort, further demonstrating their diverse investment portfolio. However, their connection to the car rental industry through Hertz remains a key aspect of their investment history.
10. NordicNinja VC
- Website: nordicninja.com
- Type: Venture Capital
- Headquarters: Helsinki, Uusimaa, Finland
- Founded year: 2019
- Headcount: 1-10
- Number of deals in 2024: 6
- LinkedIn: nordicninja-vc
NordicNinja VC is a venture capital firm based in Helsinki, Finland, founded in 2019. The firm specializes in investing in technology startups that emphasize sustainability and digital innovation. With a portfolio that spans various sectors, including mobility, deep tech, and climate technology, NordicNinja VC aims to support startups in scaling their operations, primarily in Northern Europe. Notably, they have invested in Bolt, a prominent ride-hailing service, which raised nearly $67 million in a Series C funding round in July 2019. They have also invested in VOI Technology, a leading e-scooter company, participating in multiple funding rounds totaling over $160 million. These investments highlight NordicNinja's commitment to the mobility sector, making them a relevant player in the online car rental landscape as the industry increasingly intersects with innovative mobility solutions.
11. Volvo Cars
- Website: volvocars.com
- Type: Corporate
- Headquarters: Sweden
- Founded year: 1927
- Headcount: 10001+
- Number of deals in 2024: 2
- LinkedIn: volvocars
Volvo Cars is a prominent automobile manufacturer based in Sweden, founded in 1927, specializing in the production and sale of vehicles, including electric and hybrid models. The company emphasizes safety and environmental responsibility, offering innovative and sustainable transportation solutions. In recent years, Volvo Cars has made significant investments that align with the evolving landscape of mobility services. Notably, they acquired Luxe, a car valet startup, which enhances their capabilities in the online car rental and mobility services sector. This acquisition reflects Volvo's strategy to integrate technology and services that complement their vehicle offerings. Additionally, Volvo Cars has been involved in substantial financing activities with Polestar, a performance electric vehicle manufacturer, indicating their commitment to innovation and sustainability in the automotive industry. These transactions highlight Volvo Cars' interest in expanding its influence beyond traditional vehicle manufacturing into the realm of mobility services, making them a relevant player in the online car rental industry.
12. Intera Partners
- Website: interapartners.fi
- Type: Private Equity
- Headquarters: Helsinki, Uusimaa, Finland
- Founded year: 2007
- Headcount: 11-50
- Number of deals in 2024: 2
- LinkedIn: intera-partners
Intera Partners is a private equity firm based in Helsinki, Uusimaa, Finland, founded in 2007. The firm specializes in investment management and advisory services, focusing on growing and internationalizing Finnish and Swedish companies. They provide capital and strategic support to businesses with revenues between €10-200 million, emphasizing responsible investing and building strong partnerships with business owners. Notably, Intera Partners has been involved in significant transactions within the online car rental context, including the acquisition of Renta Group in April 2016, which is a key player in the car rental industry. Additionally, they acquired Kamux Group in December 2011, which, while primarily a used car retailer, also engages in car rental services. These transactions highlight Intera Partners' active role in the car rental sector.
Online Car Rental Insights: Key Investors in the Nordics
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| VNV Global AB | Stockholm, Stockholm, Sweden | 1-10 | 1996 | 1 |
| Kinnevik | Stockholm, Stockholm, Sweden | 11-50 | 1936 | 10 |
| Schibsted | Oslo, Oslo, Norway | 5001-10000 | 1839 | 3 |
| Heartcore Capital | Copenhagen, Denmark | 11-50 | 2007 | 17 |
| IDC Ventures | Copenhagen, Denmark | 11-50 | 2019 | 2 |
| Nordic Eye Venture & Growth Capital | Copenhagen, Denmark | 11-50 | 2016 | 0 |
| Seed Capital Denmark | Frederiksberg, Frederiksberg, Denmark | 1-10 | 2004 | 5 |
| Etraveli Group | Stockholm, Stockholm, Sweden | 1001-5000 | 2000 | 0 |
| Norvestor | Oslo, Oslo, Norway | 11-50 | 1989 | 3 |
| NordicNinja VC | Helsinki, Uusimaa, Finland | 1-10 | 2019 | 6 |
| Volvo Cars | Sweden | 10001+ | 1927 | 2 |
| Intera Partners | Helsinki, Uusimaa, Finland | 11-50 | 2007 | 2 |
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