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Hlpy Secures €20M to Expand Vehicle Services

Hlpy secured €20M in a hybrid funding round led by BNP Paribas BNL Equity Investments to expand its vehicle and mobility assistance services.

By Raina Gimmel

Hlpy raises €20M

The big picture: Hlpy, an Italian scale-up, has closed a €20 million hybrid funding round and acquired Carvoilà, a company specializing in vehicle handling and logistics services. This move aims to expand Hlpy’s digital, AI-driven platform across the entire automotive supply chain.

Why it matters:

  • Strategic Expansion: The acquisition of Carvoilà and the new funding enable Hlpy to evolve from a mobility assistance platform into an integrated ecosystem of vehicle services, consolidating its role as a pan-European orchestrator.
  • Market Consolidation: By integrating Carvoilà’s expertise in vehicle logistics, Hlpy strengthens its position in the European market, with anticipated impact on recurring revenue targets exceeding €100 million by 2027.
  • Investor Confidence: BNP Paribas BNL Equity Investments’ stake in Hlpy underscores confidence in the company’s business model and technology, supporting its accelerated growth trajectory in Europe.

How it works:

  • AI-Driven Platform: Hlpy’s core offering is a fully digital, AI-driven platform that revolutionizes vehicle and mobility assistance services, connecting technology, data, and an operational network.
  • Integrated Ecosystem: The acquisition allows Hlpy to support vehicles throughout the entire pre- and post-sales service chain, encompassing assistance, repairs, maintenance, and logistics.
  • Operational Synergies: Carvoilà’s founders, Francesca Vidali and Michela Conti, are joining Hlpy Group to expand Carvoilà’s model into existing Hlpy markets like France, Germany, Austria, and Spain, leveraging operational and geographical synergies.

The catch: While the hybrid funding round provides capital for strategic acquisitions, the undisclosed proportion of equity versus debt could introduce financial complexities. Furthermore, integrating Carvoilà’s operations and expanding its model across diverse European markets presents execution challenges in a competitive and fragmented automotive services landscape.

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