The British company Cazoo buys the Barcelona startup Swipcar - Start Up Gazzete
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The British company Cazoo buys the Barcelona startup Swipcar


New example of overcoming adversity in the Barcelona enterprising environment. The British organization Cazoo, which has been recorded on the New York Stock Exchange since the finish of August, has procured the Barcelona rental and membership vehicle organization Swipcar. The exchange is esteemed at € 30 million and, as indicated by Cazoo, it will be paid for through a blend of money and stock trades.

In light of Llacuna Street, in the 22 @ area, Swipcar was established in 2018 by Julio Ribes, who had recently worked at Ford and Seat, Pablo Pascual and Blas Gil. They saw the chance to apply to the car business a pattern that is becoming general in an ever increasing number of areas, servitization or pay-per-use, in other words, changing over what as of recently was a demonstration of procurement into an assistance. His thought was to wagered on a model that did not depend on the offer of vehicles, yet on a portability administration. Accordingly, they made Swipcar, a vehicle commercial center where the client can lease a vehicle for quite a long time in return for a proper expense that incorporates all upkeep costs, charges and furthermore protection. The organization works with in excess of 30 vehicle brands and gratitude to digitization it permits all methods to be exceptionally quick and basic for the client.

Swipcar became 160% in 2020 and during the current year its gauge was to twofold its business volume once more. A couple of months prior, Ribes, who is the CEO of the organization, professed to develop at the pace of 500 vehicles each month, with the gauge of shutting 2021 with 6,000 leased vehicles. This increment in the quantity of clients has additionally generously expanded the organization’s labor force in Barcelona, ​​which has dramatically increased amidst the pandemic, going from 40 to the current near 100 specialists. The fresh recruits are additionally a result of Swipcar’s worldwide development process, which has as of late dispatched its administration in Italy and Portugal.

In September 2021, Swipcar shut its third venture round, for 1.5 million euros, driven by Inveready. The asset then, at that point, featured that “Swipcar is an illustration of execution, development and market administration with a technique of capital effectiveness”.

For Cazoo, Swipcar is the extraordinary chance to speed up its development plans in Europe and position itself in key business sectors like Spanish, Italian and Portuguese. “Swipcar has made a main vehicle membership market in the Spanish market and adds many new clients consistently. This understanding will permit us to speed up our dispatch plans in Spain and Italy, offering purchasers the choice to purchase, sell, fund or prefer a vehicle totally on the web. I anticipate inviting Julio and his group to Cazoo and working with them to give the best insight to customers searching for their next vehicle in Europe, “said Alex Chesterman, sequential business visionary, organizer and CEO of Cazoo.


Like Swipcar, Cazoo was likewise brought into the world in 2018 determined to change the vehicle deals market in the United Kingdom and on the European landmass. As indicated by the firm, in only two years it has figured out how to sell 40,000 vehicles internet, becoming one of the quickest developing organizations in Europe and the principle player in the vehicle membership business. With Swipcar it supports this position, yet additionally has a stage in Southern Europe that will likewise permit it to dispatch its internet based vehicle deals business in Spain and Italy in 2022.

“I’m extremely glad for the stage and the group that we have worked at Swipcar. We have created solid organizations with huge number of faithful clients and key industry players. Cazoo has an unmistakable vision and methodology that are completely lined up with our own and we are anticipating uniting and speeding up the dispatch of Cazoo and the computerized change of the vehicle purchasing, selling and guaranteeing experience in Spain and all through Europe “, has featured Julio Ribes.

Cazoo originator Alex Chesterman is a British business visionary known for having offered LoveFilm to Amazon – which laid the basis for the Amazon Prime Video administration – for 200 million pounds. What’s more, he established the land gateway Zoopla, which was procured by the venture bunch Silver Lake for right around 3,000 million dollars in 2018. In 2013 he was chosen Entrepreneur of the Year by the counseling firm EY and his benefits have permitted him to be perceived as an individual from the Excellency Order of the British Empire, OBE, in its abbreviation in English.



Author avatar
Joshua Smith

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