Italian roadside assistance startup hlpy bags €7.5M to assist its international development plan

Milan-based hlpy, a fully digital roadside assistance startup, announced on Tuesday, November 22, that it has raised €7.5M in its Series A funding round.

The investment was led by Synergo Capital and included CDP Venture Capital and The Techshop as co-investors, as well as debt and convertible securities.

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In the press release, translated from Italian, Simone Cremonini and Giacomo Picchetto, managing partner of Sinergia Venture Fund, stated, “The changes prompted by the macro trends of electrification, connectivity and shared mobility in the automotive sector require the main actors. the sector to rethink their supply chain and their products and services in a digital and sustainable way. In hlpy we have found a digital platform to manage end-to-end roadside assistance, which reduces intervention times, operating costs and increases the value and quality perceived by end users.”

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Use of capital

hipy says that it will use the proceeds to significantly accelerate the international development plan and to increase the services offered by the digital platform, so that it becomes a key player in the new scenario of mobility 4.0.

Roadside assistance digital platform

Founded in May 2020, hlpy aims to reshape the roadside assistance industry. Through its digital platform, the startup plans to create value for insurance companies, car manufacturers, rental companies, and rescue operators and, most importantly, make the service more reliable and safer for users.

hlpy claims to be the only player with an integrated front-end network, customers, operational and emergency platform in digital native mode.

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The company was founded by Valerio Chiaronzi, Graziano Cavallo and Enrico Noseda, and Stefano Sarti joined it as a founding member, in August 2022, to support the international market development process.

Investors in this round

Synergo Capital is an asset management company specialized in supporting Italian start-ups and small and medium-sized enterprises founded and managed by entrepreneurs seeking strategic and financial support to accelerate growth and development in the international market. In 2020 the firm created Sinergia Venture Fund, the first Italian venture capital fund with subsidized taxation dedicated to innovative technological growth in the B2B field.

CDP Venture Capital is an SGR (70 percent of CDP Equity and 30 percent of Invitalia) with €2B of resources under management. The firm aims to make Venture Capital a cornerstone of the country’s economic development and innovation, creating the conditions for the overall and sustainable growth of the Venture Capital ecosystem.

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The Techshop specializes in venture capital funds. The firm was founded and is led by two innovators of the digital ecosystem, Gianluca D’Agostino, entrepreneur and business angel (Neomobile, Bango, London Business Angel, IAG) and Aurelio Mezzotero, a fund manager with experience in managing venture investments in . Atlante Ventures, IAG and Innogest. The Techshop Primo fund specializes in B2B Seed, has raised around €40M and has invested in 4 “high potential” digital companies.

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