October 08, 2019
Edenred Capital Partners invests in the fleet management platform Avrios
Through Edenred Capital Partners, its venture capital structure, the Edenred Group invests in Avrios, a fleet management platform which aggregates data, automates processes and offers tailored mobility solutions to fleet managers. With this investment, which is part of Avrios' Series B funding round, Edenred Capital Partners enriches its portfolio in value-added services for fleet managers, a fast-growing market on which Edenred is a leading player.
Founded in Zürich in 2015, Avrios disrupts the corporate fleet management market by enabling fleet managers to save time and money with an intuitive platform, which centralizes fleet expenses. Avrios’ solution automates data collection processes and provides automated analysis and meaningful insights to turn into specific action items. Avrios manages more than 80,000 vehicles and is used by more than 800 customers, including Alko, Deutsche Welle, DB Schenker and Kasto.
Philippe Dufour, Executive Vice President, Alternative Investments for Edenred and Managing Partner of Edenred Capital Partners declares: "After our investment in the digital freight forwarder Fretlink in April 2019, our investment in Avrios reinforces Edenred Capital partners Fleet & Mobility portofolio and expertise. We want to accelerate on this vertical as it represents an interest for the Group and we can therefore trigger mutually beneficial synergies”.
Andreas Brenner, CEO of Avrios adds: "We are very pleased to welcome Edenred Capital Partners as investors in Avrios, and to see the Edenred Group, a world leader in the fleet and mobility field, join our mission. Edenred’s know how and the additional capital will allow us to further increase the pace at which we develop the most innovative fleet and transportation management platform for companies”.
Edenred, a world leading player in Fleet & Mobility Solutions
Edenred is a global player in Fleet & Mobility Solutions and offers both Fuel & Fleet Solutions, covering expenses dedicated to vehicle fleet (such as fuel, toll, maintenance, telematics and financial services) and Corporate Expense Solutions for expenses incurred by employees in the course of their activities. Edenred manages 2.8 million fuel cards and toll solutions accepted at 100,000 partners across the World.
This new investment bolsters Edenred's already extensive ecosystem in Europe’s Fleet & Mobility Solutions market, of which the Group is the second largest independent player, and will enable Edenred to fine-tune its expertise in this rapidly changing sector.
Edenred Capital Partners, a focused venture capital investor
Edenred Capital Partners makes investments in innovative businesses with high growth potential in sectors related to Edenred's activities, such as employee benefits, Fleet & Mobility, Payment and Retail Technology. Edenred Capital Partners leverages Edenred’s ecosystem by initiating valuable synergies with the companies and help them accelerate their commercial growth in fast changing, competitive markets.
Avrios is the fifteenth company backed by Edenred Capital Partners since 2012.
Visit www.edenredcapital.com for more information about Edenred Capital Partners.
