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Strata acted as exclusive financial adviser to the shareholders of Drivr (Click A Taxi ApS) on its €3 million Series A financing led by the Danish venture capital fund Vækstfonden.
Drivr is a Copenhagen-based company that offers taxi companies cloud-based dispatch and booking solutions as well as next-generation mobile apps for their drivers and passengers. Drivr’s unique positioning in a hotly contested market is its ability to help existing taxi companies maintain and grow market share in the context of an increasingly app-dominated industry. Drivr has also developed a voucher-based marketing solution for taxi companies that is highly capital efficient for investors, unlike certain rival models. The company is backed by some of Denmark’s leading business angels including the founders of GoViral (sold to AOL), WorldOne (a former Strata client) and Zyb (sold to Vodafone). The company employs 24 staff in Copenhagen and Cambridge and has deployed its solution to clients in the Nordics and UK.
Vækstfonden is a Danish state investment fund that has invested in some of Denmark’s leading ventures such as Trustpilot, the leading consumer website review service. The fund focuses on making seed, venture and growth investments in the technology, life sciences and alternative energy sectors.
Strata advised Drivr from shortly after the launch of its Cloud-based dispatching system on a range of financial and operational areas that proved critical to obtaining funding for its growth plan.
Strata also helped generate competitive tension during the fundraising process, approaching a number of leading European institutions and corporate VCs. Due to the early stage of development of Drivr at the time the round closed, a local VC was best suited to lead the round, but several other high profile European investors are now monitoring Drivr’s progress and may invest in the Series B.