Fixico, the Amsterdam-based digital platform for car damage repair, has raised €7 million ($7.9 million) to grow its international footprint and fleet and insurance partnerships.
The technology company offers a digital platform that seamlessly handles car repair for consumers, insurers, and fleet owners, providing them full control at every step in the repair process.
The funding round was led by Autotech Ventures, an early backer of Lyft, a competitor of Uber, and other successful startups like Frontier Car Group and Outdoorsy. Autotech Ventures’ Managing Partner Alexei Andreev joins Fixico’s Supervisory Board. Previous investors, such as serial entrepreneur Laurens Groenendijk (JustEat, Treatwell, Hiber) and Orange Growth Capital also participated in this round, bringing the total amount of funding to €14.3 million ($16 million) to date.
Fixico is currently active in the Netherlands, Belgium, Germany, and South Africa, working with one of Europe’s largest independent networks of more than 2,000 repair shops in total, said the company, noting that it made its first decisive steps in the international business-to-business market in 2018 and now is poised to expand across Europe.
Digitizing Car Repair
“In the car damage repair space, it seems as if time has stood still. The driver’s customer journey is still inconvenient and time-consuming. It involves numerous calls, emails, physical inspections, and so on. Yet today’s consumer expects a seamless experience, via a few simple clicks, like booking a taxi or a hotel,” said Derk Roodhuyzen de Vries, CEO of Fixico, in a statement.
“With Fixico, we offer an innovative and fully digital way to handle car damage repairs. Fleet and insurance partners use our platform as an intelligent repair tendering/ steering mechanism, to lower costs and cycle times and gain real-time insights,” he added.
Fixico said it has seen an uptake in fleet and insurance partners, including international players such as AXA and AON, which are already using the platform to offer a fully-digital damage handling proposition to their customers.
“We’re continuously looking for promising companies in the mobility sector globally, and believe that the model across the value chain that Fixico is building has the potential to change a multi billion market. The team is outstanding and we are looking forward to supporting Fixico’s international expansion and building a global category winner,” said Alexei Andreev, managing partner at Autotech Ventures.
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