Battery Ventures is buying Berlin-based Vimcar and Zurich-based Avrios, both of which provide software that help European businesses manage fleets of vehicles they own.
The technology-focused investment firm, which has backed companies like Coinbase Global Inc. and Dollar Shave Club, plans to eventually merge the firms and use the combined platform to consolidate Europe’s fleet-management software space, Morad Elhafed, a Battery general partner, said in an interview.
“We have a roll-up that we are implementing that is probably putting together about 10 to 15 companies,” Elhafed said. “It is a highly fragmented market.”
Battery’s investment totals 200 million euros ($212 ...
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