Renting Finders, the marketplace that has transformed online car rental in Spain and Portugal, has acquired Swipcar from publicly listed company, Cazoo (NYSE: CZOO).The acquisition will enable Renting Finders to consolidate its position as the leading provider of online leasing and renting services in Southern Europe and accelerate its expansion into new markets.
Swipcar, one of the pioneering car subscription marketplaces in Spain and Italy, with over 7.000 active subscriptions, was acquired in 2021 by Cazoo, the UK’s leading online car retailer.
Founded in 2019 by Arturo Álvarez and Javier Maside, Renting Finders offers a 100 % digital experience that allows the contracting of a new or used vehicle in a leasing contract in just 15 minutes and subsequent home delivery to the customer in a short period of time.
BlueBull, the financial advisory firm specialized in technology and high-growth companies in M&A transactions, acted as the exclusive financial advisor to the shareholders of Renting Finders in a fundraise prior to the acquisition and during the subsequent acquisition.
Acquiring Swipcar will allow Renting Findersto increase its customer base by a factor of 3x and reach over 10.000 active subscriptions and consolidate its leadership position in an automotive market which is moving ever more towards a digitalization, where subscription-based renting and leasing models are becoming increasingly important. According to the Spanish Renting Association (AER), the sector's share of registrations in Spain has risen to 26.32%, and the number of leased cars stands at 836,000, 8% more than in 2021.
Arturo Álvarez, CEO of Renting Finders: “We are very excited to be able to accelerate our growth and take advantage of the synergies that will arise from the integration of Swipcar”.
Cazoo was legally advised by Squire Patton Boggs during the transaction.
About Renting Finders
Vehicle leasing marketplace based in Spain and Portugal. It has 4,000 customers and a team of 40 people located in Madrid and Lisbon. It allows you to compare and contract the best leasing service digitally without any type of commission.
About Swipcar
Swipcar, based in Spain and present in Italy and Portugal, is the leading car subscription marketplace. It offers a vehicle leasing solution that contributes to the digitalization of the automotive sector. An online platform that allows individuals and companies to hire a car under a flexible mileage and duration plan. In November 2021, Swipcar was acquired by publicly listed company Cazoo (NYSE:CZOO).
About BlueBull
With over 20 transactions closed since 2021 in the technology sector, BlueBull is the leading tech investment bank in Southern Europe. A team of +20 digitally focused professionals contributes to the growth of the digital economy advising entrepreneurs, corporates, and institutional investors on M&A and fundraising transactions.
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