French peer-to-peer car rental service Drivy receives $8.3 million in funding

Posted May 5, 2014

Drivy is a French startup that has raised ?6 million ($8.3 million) in Series A funding from Index Ventures and Alven Capital. The two investors provided Drivy with $2.8 million in seed funding. Drivy is a peer-to-peer car rental company, which means that anyone can rent out their car. You can use the Drivy app or website to rent out a car, which would cost less than what it would cost you from renting through a brick-and-mortar car rental agency.

You will also receive the same insurance coverage that you would expect when renting a car. Around 250,000 people are signed up to the service in France and there are around 16,000 cars available on the platform. You also do not have to deal with issues related to hours of operation and the annoying paperwork since you are talking directly to the owner of the car.

This round of funding will be used for international expansion. Drivy will be expanding its service to Germany, Spain, the U.K., Italy, the Netherlands and Belgium.