hlpy Raises 18 Millions Euros and Goes Shopping in Europe

Acquisition of German HESA Solutions GmbH – MySchleppApp

Nextalia SGR and Alkemia Capital SGR lead the Series B round of the Italian scale-up in the digital motor assistance sector

MILAN, Sept. 24, 2024 (GLOBE NEWSWIRE) -- hlpy, the leading Italian scale-up in full digital services for mobility and vehicle assistance, has successfully completed a capital raise of 18 millioneuros aimed at strengthening its growth process in major European markets and acquiring a leading operator in Germany in digital roadside assistance: HESASolutionsGmbH-MySchleppApp.

The operation was co-led by Nextalia SGR through the Nextalia Venture fund and the current partner Sinergia Venture Fund of Alkemia Capital SGR, with the participation of all major shareholders of hlpy, including TheTechshopSGR,CDPVentureCapital –fondoCorporatePartnersI,ServiceTech, and Simest. The Series B consists of 80% capital increase and 20% long-term financing provided by credit institutions.

Thanks to this financial injection, hlpy accelerates its international expansion plan and announces its first M&A operation in Europe with the acquisition of 100% of thecapital of HESA Solutions GmbH, commercially known as MySchleppApp, one of the leading digital roadside assistance companies in Germany and Austria, with annualgrowthratesexceeding130%.

The acquisition of MySchleppApp allows hlpy to consolidate its position as theprimary European operator of full-digital roadside assistance, offering its services not only in Italy, France, and Spain but also in Germany and Austria. These services include assistance, repair, and vehicle maintenance through the use of a software platform based on machine learning and artificial intelligence.

MySchleppApp delivers its services through a network of over 1,500 partners on the ground, with operations and a technology platform that integrate well with hlpy's.

SinceitsmarketentryinFebruary2021,hlpyhashandled over550,000assistancerequestsand,followingtheacquisition,expectstotriplethevolumesoffiscalyear2023,projectingapositiveEBITDA.

"This operation," explained Valerio Chiaronzi, CEO of hlpy, "supported by leadinginvestors,strengthenshlpy'sleadershipintheEuropeanmarketfordigitalcarassistance.The capital increase reflects our shareholders' confidence in hlpy's growth path, whichrecorded a revenue increase of 157% in 2023 compared to 2022, and this year will alsogrowbytripledigits.Despiteexponentialorganicgrowth,wesawtheopportunitypresentedbyMySchleppAppastherightonetoseizetoenteranimportantmarketlike Germanyandclearlymarkourgrowthtrajectoryandfuture:tobecomealeaderinmobilityservices, redefining the rules and standards in roadside assistance, as well as in vehiclerepair and maintenance, without any geographical limits. We are excited to welcome theMySchleppAppteam,withwhomwehaveformedauniquesynergyfromdayone,thanksto shared corporate values, an operational model, and a technological approach alignedwithourvision.

"We also believe that the integration of our realities can bring concrete benefits to ourbusinesspartners–manyofwhomarecommonandcross-country–who,post-integration,willhaveaholisticviewoftheirvehiclesanddriversinmultiplecountries."

"We are proud and excited to join the hlpy group," added Santosh Satschdeva, CEOofHESASolutionsGmbH."TheintegrationbetweenhlpyandMySchleppApprepresentsthe union of two of the most technologically advanced entities in the vehicle assistancesectorinEurope,withthecommongoalofprovidingourcommercialpartnersanddriverswith a superior customer experience, while also reducing operational costs and vehicledowntime. Together, we can expand a unique service model without any geographicalbarriers,acceleratingthegrowthofthenetworkandcustomerbase."

hlpy was born in Milan in May 2020 with the aim of reinventing vehicle assistance. Thanks to its innovative digital platform, hlpy aims to create value for insurance companies, car manufacturers, rental companies, rescue operators, and, above all, to make the service more reliable and secure for end users.

HESA Solutions GmbH, with its brand MySchleppApp, was founded in Germany in 2016. The business focus is on roadside assistance and support in the event of vehicle breakdowns. MySchleppApp's approximately 75 clients include automobile manufacturers, fleet managers, and leasing companies. Its strength lies in the fully digital management of rescue requests, with a highly efficient rescuer engagement process and short waiting times for customers.

Photos accompanying this announcement are available at:

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