Belgian scale-up MyMove raises €3.2M to help companies adopt modern fleet sharing; here’s how

In mid-April, 2022, Brussels-based MyMove, an online platform to rent mobility solutions and vehicles, announced that it raised €3.2M in its Series A round of funding.

Three of Belgium’s main automotive groups, D’Ieteren, Ginion Group and Valckenier, with the help of Finance&Invest.Brussels, also joined forces to facilitate the sharing of vehicles inside and outside organisations internationally through MyMove. The three coming together also helps capture the value of new car ownership models. 

Guy Valckenier, Director of Valckenier, says, “The automotive ecosystem is changing rapidly and at Valckenier we want to keep playing a significant role in the new mobility needs of customers. We started years ago to invest in rental and car-sharing activities to support the move from car ownership to usership. We believe that moving towards vehicle usership will remain a major trend in the future. Investing in MyMove is for us the right way to support this trend, together with experienced investors sharing the same vision.”

‍D’Ieteren wants to play an active role in the sustainable transition

D’Ieteren founded Lab Box in 2017. It is a startup studio that develops new ventures and invests in new mobility solutions to make cities and rural areas more livable and enjoyable in the future.

Lab Box’s portfolio currently consists of 10+ market-oriented companies that cover different topics in the mobility field, including car sharing, MaaS solutions, car leasing, on-demand taxi & drivers, autonomous cars, EV charging, mobility advisory and bike leasing. Its objective is to become the first choice for mobility, and its portfolio is evolving with new startups being incubated internally and ventures being acquired.

CEO of Lab Box, Michael Grandfils, says, ‍“We are proud to continue supporting MyMove in its current development and play an active role in the sustainable transition by facilitating the switch from vehicle ownership to vehicle sharing. Thanks to a customer-centric approach, MyMove is providing clients with the right tools to facilitate the adoption of vehicle sharing. We are excited to start working with the new shareholders, who will bring important strengths to the company’s future, in Belgium and abroad.”

“Empowering organisations to adopt modern fleet sharing”

According to management consulting firm McKinsey, consumer mobility behaviour is changing, with one out of ten cars sold in 2030 potentially being a shared vehicle – representing 5 millions new shared cars every year. Emerging trends such as ride-hailing, car-sharing and subscription services are changing the way people relate to personal vehicles, moving away from vehicle ownership towards ‘vehicle usership’.

This is where MyMove looks to make a move. The company was founded in 2109 as part of Lab Box, VW Group importer D’Ieteren’s startup for new business models around mobility.

MyMove is an integrated SaaS solution that solves the operational challenges of vehicle sharing. The platform enables car rental companies, car dealers, service vehicle fleets and corporates alike to offer an end-to-end digital vehicle rental experience to their users.

The company provides all the technology to have a connected, and therefore, shared fleet, with in-car keyless technology, mobile app for the end-user, mobile payments (credit cards) in-app, platform and dashboards for the fleet manager(s) and the possibility to integrate with users’ current systems.

Guy-Louis de le Vingne, CEO of MyMove, says, “Bringing three of the main automotive Groups around us is a clear signal that the market is moving in our direction, and we are glad to have their expertise with us to help put on the road vehicles that would otherwise sit, unused, in parking. We bring extra revenue to vehicle owners while offering new mobility means to people in the vicinity.”