Investment of 85 million euros awarded to Roadsurfer
Roadsurfer Secures €85 Million Financing for Global Expansion
Roadsurfer, a Munich-based campervan rental startup, has secured €85 million in financing to fuel its international expansion across Europe and North America. The funding comes from a combination of €60 million asset-backed securitization led by Macquarie Group and €25 million venture debt led by BBVA.
The financing rounds reflect partners' confidence in Roadsurfer's business model, as the company currently operates over 90 locations in 16 countries, including Germany, the US, and Canada. Roadsurfer manages about 10,000 campervans, with well-known brands such as VW, Mercedes-Benz, and Ford making up the fleet.
The Macquarie Group financing will primarily be used to expand the fleet and scale the operating business, while the €25 million from BBVA will primarily support Roadsurfer's digital development.
Roadsurfer's co-founder and CEO, Markus Dickhardt, spoke positively about the financing rounds, highlighting the strategic value of partnering with both BBVA and Macquarie Group to create long-term value. The collaboration with Macquarie and BBVA was characterized by constructive dialogue and a shared understanding of long-term value creation.
The agreement with BBVA is part of the European Union's InvestEU program and the European Investment Fund. The new ABS agreement with Macquarie Group increases the existing ABS structure to €200 million.
With the funding, Roadsurfer plans to strengthen its presence in the European and North American markets, focusing on fleet and market expansion, diversification of services, and comprehensive financing strategy. Beyond traditional rentals, Roadsurfer offers subscriptions, campervan sales, and the roadsurfer Spots platform, which connects travelers with private camping spots.
The funds from BBVA offer particularly favorable terms, enabling Roadsurfer to reach significant scale. In 2023, the company's sales are projected to be around €114 million, with a consolidated annual profit near €1.6 million. This indicates that the funding aids both top-line growth and profitability.
Founded in Munich in 2016, Roadsurfer has become one of the world's leading providers in the outdoor travel market. The financing rounds are a testament to the company's success and its promising future. As Roadsurfer continues to grow, it will undoubtedly make a significant impact on the campervan rental industry and the outdoor travel market as a whole.
The financing rounds of €85 million secure the startups, Roadsurfer's, expansion into the campervan rental industry across Europe and North America, with the industry-leading businesses, Macquarie Group and BBVA, providing the funding. The financing will primarily be used for fleet expansion, operating business scaling, and digital development, with funds from BBVA offering particularly favorable terms to help Roadsurfer reach significant scale.
