Mobacar nabs multi-million Euro investment from Auto Europe
A Euro 20 million valuation has been put on Ireland-based Mobacar following an investment in the company by Auto Europe and Delta Partners.
The initially undisclosed funding round (“multi-million”) is understood to be in the region of Euro 4 million.
The car rental distribution technology company says the round will be used to increase headcount and invest in product development.
It is also clearly trying to position itself as a competitor to fellow Irish travel tech brand CarTrawler.
So much so that fighting talk from Mobacar CEO Mike Webster claiming the partnership with Auto Europe will “disrupt a non-data driven industry”.
“Airlines and online travel agencies have been duped for years and have sleepwalked into car rental solutions that overprice their customers, drive poor conversions, are poorly serviced and drive absolutely no loyalty to the online travel retailer’s brand.”
“Mobacar have been at the forefront of the development of retail intelligence technology for the travel industry. Based on these innovations, AE and Mobacar see the huge potential in partnering Mobacar’s technology and AE’s global supply and unparalleled service.”
Mobacar had previously won investment from Delta Partners with an earlier Euro 4 million financing.
Delta has also backed Irish tech companies, Boxever and MeetingsBooker.
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