Italian roadside assistance startup hlpy bags €7.5M to assist its international development plan
hlpy founders | Image credit: hlpy
Milan-based hlpy, a fully digital roadside assistance startup, announced on Tuesday, November 22, that it has raised €7.5M in its Series A round of funding.
The investment was led by Synergo Capital and included CDP Venture Capital and The Techshop as co-investors, as well as debt and convertible securities.
In the press release, translated from Italian, Simone Cremonini and Giacomo Picchetto, managing partner of Sinergia Venture Fund, mention, “The changes triggered in the automotive sector by the macro-trends relating to electrification, connectivity and shared mobility require the main players in the sector to rethink their supply chain and their products and services in a digital and sustainable key. In hlpy we have found a digital platform for the management of end-to-end roadside assistance, which reduces intervention times, operating costs and increases the value and quality perceived by end users.”
Capital utilisation
hipy says it will use the proceeds to give a significant acceleration to the international development plan and to increase the services offered by the digital platform, in order to be a key player within the new mobility 4.0 scenario.
Digital roadside assistance platform
Founded in May 2020, hlpy aims to reshape the roadside assistance industry. Through its digital platform, the startup intends to create value for insurance companies, car manufacturers, rental companies, and rescue operators and, most importantly, to make the service more reliable and safer for users.
hlpy claims to be the only player to have an integrated front-end, customer, operational platform, and emergency network in a native digital mode.
The company was founded by Valerio Chiaronzi, Graziano Cavallo and Enrico Noseda, and was joined by Stefano Sarti as a founding member, in August 2022, to support the international market development process.
Investors in this round
Synergo Capital is an asset management company specialised in making backing Italian startups and SMEs which are founded and managed by entrepreneurs looking for both strategic and financial support to speed up growth and development on the international market. In 2020 the firm created Sinergia Venture Fund, the first Italian venture capital fund with subsidised taxation dedicated to innovative technological scale-ups in the B2B field.
CDP Venture Capital is an SGR (70 per cent of CDP Equity and 30 per cent of Invitalia) with €2B of resources under management. The firm aims to make Venture Capital a cornerstone of the country’s economic development and innovation, creating the conditions for the overall and sustainable growth of the Venture Capital ecosystem.
The Techshop specialises in venture capital funds. The firm was founded and is led by two innovators of the digital ecosystem, Gianluca D’Agostino, entrepreneur and a business angel (Neomobile, Bango, London Business Angel, IAG) and Aurelio Mezzotero, a fund manager with experience in managing venture investments in Atlante Ventures, IAG and Innogest. The Techshop Primo fund specialises in B2B Seed, has raised around €40M and has invested in 4 “high-potential” digital companies.
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