Mobacar Teaming with Auto Europe for New Investment Deal
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Irish travel technology company Mobacar has announced a new deal with global car rental brokerage Auto Europe and venture capital firm Delta Partners.
In a report from Dick Ahlstrom of IrishTimes.com, the multi-million dollar investment deal with Auto Europe and Delta Partners values Mobacar at €20 million, which equals almost $22.5 million in the current market.
Mobacar's tech solutions, aimed at the travel market, utilize an intelligent car rental distribution platform designed to simplify the car rental process..
Mobacar is located in County Kerry, Ireland, and will be adding 11 new employees to a staff that already has 30 personnel, including “six data scientists working on the world’s first intelligent car rental and ground transportation distribution platform for airlines and online travel agencies.”
The investment will be used to bolster the staff for the travel technology company, and it will also be used to help speed up the process of developing retail intelligence products and technology.
The hope from the new investment deal is that the car rental distribution platform Mobacar is working on would help connect all of the subsidiaries under the Auto Europe umbrella, which includes locations in 180 countries across six continents.
For Mobacar, this game plan is nothing new. The company has already designed distribution platforms to connect online travel brands with their customers for car hire firms, motor homes, motorcycles, helicopters and other transportation companies.
With Auto Europe looking to add more technology in order to connect its vast network, the relationship with Mobacar fits the company’s long-term plan.
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