hlpy funding news – Milan-based hlpy Secures €18 Million in Series B Round Funding

All of hlpy's major shareholders, including The Techshop SGR, CDP Venture Capital – fondo Corporate Partners I, ServiceTech, and Simest, participated in the operation, which was co-led by Nextalia SGR through the Nextalia Venture fund and current partner Sinergia Venture Fund of Alkemia Capital SGR. Eighty percent of Series B is a capital increase, while the remaining twenty percent is long-term financing from credit institutions.

With the help of this cash infusion, HPY is able to move forward with its global expansion strategy and announce its first M&A deal in Europe: it will buy all of the shares of HESA Solutions GmbH, better known by its business name MySchleppApp, which is among the top providers of digital roadside assistance in Germany and Austria, with yearly growth rates that surpass 130%.

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By acquiring MySchleppApp, hlpy is able to strengthen its position as the leading provider of full-digital roadside assistance in Europe and expand its service coverage to include Germany and Austria in addition to Italy, France, and Spain.

By using a software platform built on artificial intelligence and machine learning, these services include help, repair, and car maintenance. Through a network of more than 1,500 local partners, MySchleppApp provides its services. Their operations and technological infrastructure are well-integrated with hlpy's.

Valerio Chiaronzi, CEO of hlpy said, "This operation supported by leading investors, strengthens hlpy’s leadership in the European market for digital car assistance. The capital increase reflects our shareholders’ confidence in hlpy’s growth path, which recorded a revenue increase of 157% in 2023 compared to 2022, and this year will also grow by triple digits. Despite exponential organic growth, we saw the opportunity presented by MySchleppApp as the right one to seize to enter an important market like Germany and clearly mark our growth trajectory and future: to become a leader in mobility services, redefining the rules and standards in roadside assistance, as well as in vehicle repair and maintenance, without any geographical limits. We are excited to welcome the MySchleppApp team, with whom we have formed a unique synergy from day one, thanks to shared corporate values, an operational model, and a technological approach aligned with our vision.”

Santosh Satschdeva, CEO of HESA Solutions GmbH said, “We are proud and excited to join the hlpy group, The integration between hlpy and MySchleppApp represents the union of two of the most technologically advanced entities in the vehicle assistance sector in Europe, with the common goal of providing our commercial partners and drivers with a superior customer experience, while also reducing operational costs and vehicle downtime. Together, we can expand a unique service model without any geographical barriers, accelerating the growth of the network and customer base.”

About hlpy

Founded in May 2020, hlpy is a firm that is redefining the motor assistance industry by utilizing advanced technology extensively. As a third-party administrator (TPA), hlpy provides roadside assistance and repair network services to automakers.