Camplify acquires German campervan rental platform PaulCamper
Campervan sharing platform Camplify is acquiring German campervan rental operator PaulCamper
Australia based Camplify says it will become one of Europe’s biggest operators for peer-to-peer RV rentals.
Launched in Australia in 2015, Camplify expanded to the UK three years ago and the acquisition will see the brand accelerate its expansion across Europe.
The acquisition will boost its rental marketplaces to more than 22,000 privately owned RVs available to hire in seven countries: Australia, New Zealand, Spain, the UK, the Netherlands, Germany, and Austria.
Whilst trading will continue under the PaulCamper brand, Camplify will provide owners with increased support through the new Camplify team.
Camplify reported a 144% increase in revenue growth in the UK throughout FY22, as its fleet size more than doubled, and bookings grew by 95%,
Worldwide, it welcomed over 39,830 bookings in FY22, representing a total transaction value of A$53.6m.
Camplify will acquire the PaulCamper insurance broking division.
PaulCamper Insurance Broker GmbH allows PaulCamper to operate as an insurance broker to customers in its current European markets.
Camplify intends to extend the current PCIB insurance products and reach.
Camplify CEO and founder, Justin Hales, said: “This acquisition delivers Camplify a strategic and targeted growth opportunity in Europe, securing the largest key market, Germany.”
“It provides Camplify with an excellent team of digital marketplace professionals based in Europe, allowing us as a group to optimise and look for expansion opportunities.”
The acquisition value is A$47.6m, paid through a combination of cash and shares, with a further A$8.5m being raised to fund additional growth.
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