“Airbnb for vehicles” platform SnappCar adjustments arms in pursuit of “additional development”

Dutch car-sharing platform SnappCar, said to be the largest of its kind in the Netherlands, has been fully acquired by AutoBinck Group – a shareholder in the scaleup since its founding in 2011.

With the change of ownership, SnappCar founder Victor van Tol returns to the role of CEO.

Van Told told local newspaper mt/sprout that the acquisition will enable faster decisions and eliminate the need for external investment. AutoBinck, specializing in mobility and energy solutions, generates sales of around 1 billion euros.

According to the two companies, the deal is intended to support SnappCar's continued growth.

“We see potential in the shared car market, which more and more people are using. Car sharing is becoming more and more relevant in big cities too,” Paul Zekhuis, CEO of AutoBinck Group, said in a statement.

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The developments follow two years of consecutive growth in the Dutch market, which the scaleup has been focusing on following exits from Denmark and Sweden.

The company saw its car rentals increase by 30% and 20% in 2022 and 2023, respectively. A key driver of growth was the Keyless Car feature, which allows renters to unlock vehicles using the SnappCar app.

Van Tol, who has described the platform in the past as an “Airbnb for cars,” said the keyless vehicles are being rented seven times more often.

The platform is available in over 95% of Dutch municipalities and now counts 10,000 cars. The company says its services have saved 1,739,642 tons of CO2 to date.