It usually happens the other way around, but this time it is different: a European company is acquiring its US competitor. Or at least partially in this case. The Danish mobility provider GoMore is integrating the European business of Getaround Europe, formerly known as Drivy, thereby becoming the largest peer-to-peer carsharing platform on the European continent.
The transaction comes as part of the decision by US parent company Getaround Inc. to divest its European business. For the Austrian market, GoMore Austria head Paul Stegmüller is announcing a clear growth trajectory.
A European market leader emerges
The merger creates a company active in eleven European countries: Denmark, Finland, Sweden, Norway, Spain, France, Belgium, Austria, Germany, Estonia, and Switzerland. The combined platform counts more than five million users and around 70,000 active vehicles.
Economically, the merged company reports gross revenue of over 240 million euros and net revenue of more than 50 million euros. Around 350 employees will work for the platform going forward, through which approximately 1.5 million rentals are processed annually.
“Normally we see European companies being acquired by international, often American corporations. It is all the more remarkable that a European company is now shaping the carsharing market at this level. With this, we are laying the foundation for a strong, independent European player,” says Matias Møl Dalsgaard, founder and Group CEO of GoMore.
What the acquisition means for Austria
For Austria, the transaction marks the return of a leading carsharing provider into European hands. The platform had been operated under the umbrella of US corporation Getaround since 2019. GoMore sees considerable potential in the Austrian market: with more than 570 cars per 1,000 inhabitants, private vehicles stand unused for over 90 percent of the time, according to the company.
Paul Stegmüller, Head of GoMore Austria, is announcing a significant expansion of activities across the entire country. In addition to urban markets, the offering is to be deliberately extended beyond metropolitan areas as well. In parallel, GoMore is investing in the Vienna location and expanding the local team.
“We are still at the very beginning of our potential in Austria. In the coming years, we will expand our offering across the entire country, grow our team in Vienna, and significantly advance the expansion of our keyless technology. Our goal is to at least double the number of keyless vehicles within two years”, says Paul Stegmüller, Head of GoMore Austria.
Keyless technology as a growth driver
A central element of the growth strategy is the expansion of so-called keyless technology, which enables vehicle owners to access their vehicles in a fully digital manner. The combined platform currently has around 18,000 vehicles with this technology across Europe. In Austria, GoMore plans to at least double its numbers over the next two years.
No short-term changes for users
According to the company, existing users and partners of both platforms will face no immediate changes. Both platforms will initially remain available in parallel in Austria. The focus is now on the technical integration of the platforms and the realisation of synergies. The merged company will continue to be led by Matias Møl Dalsgaard as Group CEO.
