The car rental market in Europe is getting competitive with each year. One of the French startups Virtuo has now become a strong contender in the car rental arena after the fresh capital inflow of £17.3 million (€20 million) from Iris Capital. Other participants in the series B funding round were existing investors including Balderton Capital and Raise Ventures.
Investors’ take on the funding
Stéphane Pesqué, partner at Iris Capital expressed, “Virtuo’s founders have created a business that is disrupting car rental from the ground up relying on a unique digital path for users. We love their attention to detail and their determination to perfect the customer experience, which will convince occasional and frequent drivers that Virtuo is the best solution when travelling for work and leisure in Europe. We are very proud to invest in them at this stage.”