PSA Peugeot Citroën takes a stake in car-sharing company

French car company PSA Peugeot Citroën has become a shareholder in peer-to-peer car-sharing start-up Koolicar, with an investment of US$10.6 million (€18 million), alongside investment fund MAIF Avenir, Koolicar's partner since 2010. Now active in around 40 French cities, with over 60,000 registered users, Koolicar started car-sharing operations back in 2012 and claims it offers unique and innovative technology for peer-to-peer car rental in Europe. Based on a connected box that can be fitted on any typ
April 12, 2016 Read time: 2 mins
French car company 1900 PSA Peugeot Citroën has become a shareholder in peer-to-peer car-sharing start-up Koolicar, with an investment of US$10.6 million (€18 million), alongside investment fund MAIF Avenir, Koolicar's partner since 2010.

Now active in around 40 French cities, with over 60,000 registered users, Koolicar started car-sharing operations back in 2012 and claims it offers unique and innovative technology for peer-to-peer car rental in Europe. Based on a connected box that can be fitted on any type of vehicle, enabling keyless transactions, calculation of mileage and lease duration, and geo-location, it makes car-sharing easy. Key advantages of the Koolicar service are its high quality, ease-of-use and range of user options as well as its responsive, customer-focused teams.

With PSA Peugeot Citroën and MAIF supporting its growth, the start-up will be able to step up its strategic growth plan and obtain the means to equip up to 30,000 cars with its technology. In addition, its team will also be expanded from 30 to 100 employees in Paris and Montreal, with new positions to be created in IT, marketing and customer service.

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