AutoBinck takes strategic share in SnappCar

AutoBinck takes strategic share in SnappCar

20-11-2015

AutoBinck Group has invested in SnappCar, a Dutch company that facilitates car sharing in the Netherlands. The burgeoning enterprise already has 150,000 users and 20,000 shared cars. SnappCar aspires to expand to 250,000 shared cars by 2018.

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‘This substantial investment sees us form a valuable association with one of the most significant developments in the mobility market’, explains Hans Kwaad, Chief Business Development Officer at AutoBinck Group. ‘The investment in SnappCar is a strategic move: we see the peer to peer car sharing market grow and want to be involved – not as an observer, but as an active participant. Another significant consideration behind the move is that car sharing contributes to increased sustainability in mobility, a factor that also played a part in our decision to invest.’

Using the website SnappCar.nl, subscribers can rent a car from other car owners. The cars are rented between users and SnappCar arranges all practical, legal (insurance) and financial aspects. The enterprise is driven by the notion that lots of cars are not in use for a large part of the day. It therefore makes sense to share these cars – it’s more sustainable and provides the car owner with additional income. It’s also beneficial for the person hiring the car – he avoids having to invest in a car of his own and the rental prices are much lower than at standard car rental companies. And beside cost saving and the positive effects on the environment, chances are that car sharing will stimulate the cohesion in the neighbourhood.

A more responsible approach to car usage
‘SnappCar is all about sustainability and responsible car usage, with a social aspect’, is how the company’s founders Victor van Tol and Pascal Ontijd summarise the venture. ‘In addition, SnappCar is 30 to 50 per cent cheaper than traditional car rental companies. Registration is free, which also makes the system accessible. Our target is to have 250,000 SnappCars by 2018. We are currently growing at a rate of 10 per cent every month. The AutoBinck investment will help us to introduce SnappCar in other European countries and cities, to realise our ambitions’.

About AutoBinck Group
Headquartered in The Hague, AutoBinck is a leading player on the European mobility market. The concern currently operates in 8 European countries. The group has approximately 50 subsidiaries, spread over 4 divisions: Car Distribution & Retail, Leasing & Finance, Parts & Accessories, and Smart Mobility.

AutoBinck invests in new forms of mobility, which are grouped in its Smart Mobility division. A recent example is AutoBinck’s investment in The New Motion, the European market leader of charging solutions for electric vehicles. AutoBinck currently has 2,000 employees. Annual turnover is approximately €1 billion.

About SnappCar
Victor van Tol and Pascal Ontijd launched SnappCar in 2011. The company facilitates car sharing by using an online platform to unite hirers and car owners looking to rent out their car. SnappCar takes care of all the practical aspects. In april 2015, SnappCar acquired the Danish car sharing platform MinBilDinBil and its Swedish equivalent FlexiDrive. SnappCar currently has 150,000 users and approximately 20,000 shared cars. The company is partly financed via crowdfunding. SnappCar has approximately 30 employees.