HLPY raises 18 million euros and expands in Europe

Acquisition of the German HESA Solutions GmbH - MySchleppApp. Nextalia SGR and Alkemia Capital SGR lead the Series B financing round.

Cologne, September 2024 - Italian scale-up hlpy, leader in digital roadside assistance, has closed a capital increase of 18 million euros. This serves to accelerate growth in Europe and to acquire HESA Solutions GmbH - known as MySchleppApp - a German provider of digital roadside assistance.

The acquisition of MySchleppApp offers us the ideal opportunity to enter the German market and expand our leading position in Europe.

Valerio Chiaronzi, CEO of hlpy

Expansion into Germany and Austria

With the acquisition of MySchleppApp, hlpy expands its reach to Germany and Austria, in addition to Italy, France and Spain. MySchleppApp offers roadside assistance, vehicle repairs and maintenance services via 1,500 local partners, supported by a software platform based on machine learning and artificial intelligence. The two companies' platforms complement each other perfectly.

Growth forecasts and market leadership

Since its foundation in February 2021, hlpy has processed more than 550,000 requests for assistance. Thanks to the acquisition, the volume is expected to triple in 2023, with a positive EBITDA. MySchleppApp is growing by more than 130% annually, further strengthening hlpy's growth trajectory.

Series B financing

The Series B financing round is led by Nextalia SGR and Alkemia Capital SGR. Existing investors such as The Techshop Capital SGR, CDP Venture Capital and Simest also participated. 80% of the financing comes from a capital increase, while 20% is covered by long-term loans from banks.