Fleetondemand, a mobility technology company, has recently purchased FleetEurope, a UK-based vehicle management company, for an undisclosed amount.
The deal was funded by Fleetondemand’s current long-term investment partner BGF, which acquired a minority stake in the technology business following a £5 million investment last year.
BGF has committed more than £2 billion in over 285 businesses since it was set up in 2011.
This acquisition will see Fleetondemand accelerate the growth of its Mobility as a Service (MaaS) solutions within the vehicle rental sector, through the provision of its Mobilleo application to FleetEurope’s blue-chip client base.
The combined business will create a powerful suite of MaaS technology products and services for UK and international businesses, in addition to consolidating its existing supplier partnerships with the UK’s major vehicle rental companies, and a wide range of local, regional and specialist rental suppliers.
Customers will benefit from combined access to the UK’s largest vehicle rental fleet of over 600,000 vehicles from 2,200 branch locations nationwide, using the latest version of Fleetondemand’s vehicle rental platform. Fleetondemand said the system currently manages 320,000 rental transactions a year from 19,000 individual users.
Read more here