Ukrainian TA Ventures and ICLUB invest in Spanish mobility startup Bipi during a €10.5M round

VC firm TA Ventures and private investors club ICLUB invested in Bipi, a fast-growing car-as-a-service startup headquartered in Madrid. The €10.5 million Series B funding round also was led by Adevinta Ventures, with participation from Toyota AI Ventures, Atresmedia, Maniv Mobility, and IDC Ventures.

“We look forward to unlocking new pools of demand and offering more people new ways of accessing a car. Our mission is to digitize the car experience, making vehicle access enjoyable and stress-free. We will use the funds to grow more aggressively in Spain, expand to new markets, and grow our tech and management team,” says Hans Christ, co-founder and CEO of Bipi.

About Bipi 

Bipi is a leading European car subscription startup that offers consumers a hassle-free alternative to car ownership, with flexible monthly subscriptions on high-quality new and used cars for a single, all-inclusive monthly payment, using a digital-first, 100% online transactional process. It’s a kind of Netflix for transport. 

Most players in the Mobility sector (carsharing, taxi, car rental) are working on the short-term goal of transporting you from point A to point B. Bipi’s product is different — it works for those who are not ready to give up personal transport.

Ninety-eight percent of car transactions in Europe occur offline today, and Bipi is transforming this market into a 100% online experience, making it as easy as buying a pair of jeans. Bipi’s subscription model is highly flexible and is a simple way for consumers to access a new car – and everything else that car ownership entails – without purchasing one outright. Bipi has become a new distribution, payment, and digital platform for many fleet owners, including some of the world’s leading leasing companies, carmakers, and dealerships.

Together with this new financing, Bipi has successfully raised a total of 20 million euros from investors in the last three years. Bipi leads the market in Spain for digital car subscriptions and will use the new funding to further accelerate its local growth, add new talents to its current team of 80 employees, invest in technology, and prepare its expansion to new European markets, including France. Bipi’s impressive growth has continued through the most difficult parts of the COVID period, with customers looking for private mobility options turning to Bipi as the most consumer-friendly car access platform in Spain.

TA Ventures and ICLUB investment rationale

TA Ventures and ICLUB have invested in Bipi for the first time in 2019. Expectations were exceeded by Bipi’s team, delivering outstanding growth, even in difficult times. So when Series B came together, it was not a hard decision to follow-on and double down on Bipi.

Viktoriya Tigipko, Founding Partner at TA Ventures and President of ICLUB, points to Bipi’s growth: “Bipi’s exceptional growth and outstanding customer feedback have confirmed their position at the forefront of the car-as-a-service market in Europe.”

About TA Ventures and ICLUB

TA Ventures is an early-stage venture capital firm, backing companies in Europe and North America at Seed and Series A, alongside high-profile co-investors, across a wide range of tech sectors. It invests in Seed and Series A startups with a typical ticket ranging between $250k and $1M and the capacity to provide follow-on investments. Its portfolio is largely focused on Europe and North America.

ICLUB Global is a network of investment clubs where private investors can co-invest with TA Ventures into fast-growing startups in the EU and the US. ICLUB members invest only in startups funded by TA Ventures. Therefore, ICLUB members can build their portfolio with lower risk. TA Ventures has already conducted its due diligence, so members just need to review it and make their decision.