hlpy Secures €18M in Funding
Italian mobility scale-up, hlpy, is accelerating its European growth with a fresh €18 million capital raise and its first major acquisition of MySchleppApp in Germany.
The company, known for its fully digital vehicle assistance services, is stepping up its game by purchasing HESA Solutions GmbH, the force behind MySchleppApp, a leading digital roadside assistance provider in Germany and Austria.
Co-led by Nextalia Venture Fund and Sinergia Venture Fund, the funding marks a pivotal moment for hlpy, allowing them to tap into new markets while beefing up their existing operations in Italy, France, and Spain.
Valerio Chiaronzi, CEO of hlpy said:
"This operation, supported by leading investors, strengthens hlpy's leadership in the European market for digital car assistance. The capital increase reflects our shareholders' confidence in hlpy's growth path, which recorded a revenue increase of 157% in 2023 compared to 2022, and this year will also grow by triple digits.
The funding consists of an 80% capital increase, with the remaining 20% backed by long-term financing from credit institutions. Not exactly your typical garage startup anymore!
This acquisition positions hlpy as the go-to digital solution for European roadside assistance, leveraging MySchleppApp’s expansive network of over 1,500 service partners.
Imagine being stranded on a German autobahn—now you can expect top-notch digital assistance to get you moving in no time. The addition of MySchleppApp’s AI-driven platform aligns perfectly with hlpy’s tech-forward approach, making for a powerful partnership.
- With over 550,000 assistance requests under their belt since 2021, hlpy’s ambitions don’t stop there. The company expects to triple its operational volume for 2023, hoping to drive revenue to new heights.
This move reflects broader industry trends, where tech-driven solutions are transforming traditional sectors like mobility.
And just in time—Europe is pushing for smarter, greener mobility solutions, and hlpy seems to be getting all its digital ducks in a row.
While their competitors are still figuring out how to change a tire, hlpy is racing ahead in the tech lane!
