Michelin funds support campervan rental site
Michelin has invested in the motorhome rental start-up Campanda, which was founded in Germany in 2013 and offers campervan hire to British holidaymakers through the campanda.co.uk portal. Through its Michelin Travel Partner subsidiary, the tyre maker is the primary investor in a second round of funding that also saw existing Campanda investors increase their financial involvement. The precise amount that Michelin has injected into the start-up hasn’t been disclosed, however Campanda states that the round of investment has provided it with a total of €10 million for further growth, raising total investment in the company to €17 million.
Campanda is promoted as the world’s largest marketplace for campervan and mobile home bookings, and its services are offered in 44 countries and in a total of six languages. Both commercial operators and private campervan owners can hire out their vehicles through Campanda’s sites. On the back of the recent investment round, Campanda intends to strategically build upon its current team of 45 employees in three locations, expand into new markets and enlarge the fleet of more than 26,000 vehicles currently for hire via the company’s portals.
“We’re filled with pride to welcome in Michelin a further renowned investor,” commented Chris Möller, founder and managing director of Campanda, in a German-language statement. “Like our existing investors, Michelin shares our understanding of travel in the 21st century: Online planning and booking as well as the sustainable use of existing resources through renting.”
Category: Company News