Fixico closes €12 million Series A financing round

Berlin — Fixico, Europe’s leading digi­tal car repair plat­form, announ­ces a €5 million expan­sion of its Series A funding round, closing it with a total of €12 million. The round is led by Auto­tech Venture. All exis­ting inves­tors, inclu­ding Fin Capi­tal, conti­nue to actively parti­ci­pate. In addi­tion, Fixico welco­mes Madrid-based Mundi Ventures to its inves­tor base. To date, Fixico has raised a total of €19.3 million. The new funds will acce­le­rate Fixico’s product deve­lo­p­ment, streng­then its presence in Germany and drive its expan­sion in Europe.

Digi­ta­liza­tion boost for the proces­sing of car repairs
Fixico is a fast-growing and award-winning Dutch tech company that aims to rede­fine the auto repair indus­try. In this field, which reflects a 120 billion euro market in Europe alone, time seems to have stood still and disrup­tion is long over­due. The repair process is time-consum­ing, inef­fi­ci­ent, and invol­ves nume­rous phone calls, emails, and physi­cal inspec­tions that are always the same — no matter what type of damage or vehicle is invol­ved. Howe­ver, modern vehic­les are beco­ming more and more tech­ni­cally sophisti­ca­ted, making repairs more complex. Not every work­shop can do that. It ther­e­fore takes a tail­o­red approach to find the right workshop.

Fixico provi­des a digi­tal plat­form that makes vehicle damage repair seam­less for drivers, insu­r­ers and fleet owners, and enables intel­li­gent match­ma­king for diffe­rent types of vehicle damage and suita­ble repair shops. The plat­form provi­des a seam­less and much more effi­ci­ent repair assign­ment process. Custo­mers can thus quickly and easily iden­tify the best repair shop for their claim, taking into account criti­cal factors such as avai­la­bi­lity, exper­tise and price.

Fixico curr­ently works with over 150 leading compa­nies in the fleet, rental, insu­rance and leasing indus­tries. Through a cross-border and unique market­place network, the plat­form provi­des access to more than 2,500 work­shops. Fixico is curr­ently repre­sen­ted in six count­ries: Germany, the Nether­lands, Belgium, Luxem­bourg, France and South Africa.

“Last year was tough for the auto repair indus­try. But even in the midst of a global pande­mic, Fixico was able to grow by 300%. This Series A round expan­sion gives us enough momen­tum to conti­nue our growth trajec­tory and become the digi­tal leader of the auto repair indus­try in Europe. In the next quar­ter, we will launch in three more Euro­pean count­ries: Italy, Austria and Denmark. In all likeli­hood, we will add three to five more count­ries to our expan­sion plans after that, with the UK and Spain at the top of our wish list. We are very exci­ted to now have Mundi Ventures on board, as they have tremen­dous know­ledge and access to a vast and cross-border insu­rance and mobi­lity network,” says Derk Rood­huy­zen de Vries, CEO and co-foun­­der of Fixico.

Simon Roth­man beco­mes new member of the Execu­tive Board
Upon comple­tion of the finan­cing round, Simon Roth­man will be appoin­ted to Fixico’s Super­vi­sory Board. Roth­man is known as an early pioneer of online market­places and network effect compa­nies. He joined eBay when it was still a small U.S. auction house for coll­ec­ti­bles and helped scale the company to nearly 200 million users and gene­rate more than $40 billion in annual revenue.

During his time at eBay, Roth­man foun­ded eBay Motors. Within six years, he built eBay Motors into a global company with annual sales of 14 billion U.S. dollars and made it the world’s number one auto­mo­tive marketplace.

Simon Roth­man is a long-time angel inves­tor and venture capi­ta­list with a passion for market­places and mobi­lity. Roth­man served as an early stage board member at Tesla, Cargu­rus, Convoy and Nuro. He is also an advi­sor and/or angel inves­tor in successful tech­no­logy compa­nies such as Lyft, Lime, Getaround, Aurora, Fiverr and Poshmark.

“During my time at eBay Motors as well as at Tesla, I perso­nally deve­lo­ped a great passion for market­places and mobi­lity. It is now a unique oppor­tu­nity to find a company as promi­sing as Fixico, which sits at the inter­sec­tion of the market­place and the mobi­lity sector. From my perspec­tive, Fixico’s use of network dyna­mics to connect repair shops with vehicle owners has the poten­tial to funda­men­tally change the auto repair indus­try,” explains Simon Roth­man as a newly appoin­ted member of Fixico’s super­vi­sory board.

About Fixico
Fixico (https://fixico-business.com/de) is Europe’s leading repair manage­ment plat­form for car damage. Since its foun­ding in 2014 by Derk Rood­huy­zen de Vries, the portal has helped car owners and busi­ness part­ners quickly and conve­ni­ently find the ideal repair shop for their car and save on repair costs. Fixico thus digi­ti­zes and simpli­fies the entire repair manage­ment process for fleet, car rental, insu­rance and leasing compa­nies. Working with over 150 leading compa­nies and a network of more than 2,500 master craft­smen, the Dutch company offers stress-free, fast repairs and compe­ti­tive prices. More than 200,000 claims have alre­ady been sett­led via the compa­ri­son plat­form throug­hout Europe. The 60-strong team alre­ady enables hundreds of compa­nies — inclu­ding part­ners such as Lease­Plan, AXA, Avis, Sixt and Aon — to handle car repairs more effi­ci­ently and cost-effec­­tively in 6 count­ries (Germany, the Nether­lands, Belgium, Luxem­bourg, France and South Africa) and conti­nues to expand across Europe. Fixico is supported by a group of leading investors.

About Mundi Ventures
Mundi Ventures is a venture capi­tal firm that invests prima­rily in tech­­no­­logy-based compa­nies with B2B busi­ness models during the A or B round. The VC’s head­quar­ters are loca­ted in Madrid. There are bran­ches in Barce­lona, London and Seattle.