French "eHailing" Player SnapCar Announces $2.5m Fund Raise

PARIS, December 9, 2014 /PRNewswire/ --

Paris-based tech startup raises $2.5m to continue its mission of revolutionizing chauffeured transport for enterprises and employees

The market for chauffeured vehicle services is becoming more and more competitive. SnapCar, truly unique in the space, focuses on the enterprise market, helping companies better control their chauffeured transport/taxi budgets. 

The "SnapCar for Business" positioning and the rapid growth of the company since launch has attracted some of the best business angels in Europe including Charles Petruccelli, former global CEO of American Express Travel, and Bertrand Mabille, current French CEO of Carlson Wagonlit.  

More than 200 companies already trust SnapCar for chauffeured transport. SnapCar's investors reflect the focus and expertise of the company, founded just over two years ago.

"SnapCar's technology is truly unique. Companies can consolidate their chauffeured transport costs, analyse each traveler's usage by department, and therefore better manage and control their budget for taxis/chauffeured ground, a significant cost that to this point has never been subject to rigorous control.

Companies love SnapCar. Despite strong market competition it was an obvious decision for me to invest: SnapCar fills a gap in a critical area that no other player addresses," said Mr. Petruccelli.

Private accounts with taxi companies are expensive and provide little to no data allowing clients to analyze usage behavior. What's more, SnapCar provides its clients - companies as well as individuals - with geolocalization and electronic payment technologies that dramatically simplify the chauffeured transport process.

"This milestone will further ensconce SnapCar in its position of leadership and innovation," said Dave Ashton, co-founder. "Thanks to our customers' confidence in us we will continue our expansion to serve a market worth more than US$12 billion."

About SnapCar 

Created in 2012, SnapCar is a chauffeured transport service built for business travelers, corporations and individuals. The company's stated objective is to drive Mobility 2.0: mobile technologies combined with quality services to provide travelers with a high quality alternative to taxis everywhere, with management tools that provide spend visibility and control for all clients. Started in Paris, SnapCar will soon launch in multiple other European destinations.

More information: http://www.snapcar.com/

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SnapCar is available on the App Store, Android Market and at snapcar.com

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