In 2021, the median age of vehicles in service in the United States was 12.1 years, according to the US Department of Transportation. More Americans are keeping their cars longer as millions struggle to make ends meet due to the ongoing economic climate.
It also leads to more vehicle breakdowns due to various reasons including lack of fuel, flat tires, dead car batteries and faulty brakes which also leave millions of Americans stranded on the road while waiting for help mostly always comes late. Unfortunately, this problem is not limited to people in the United States. People across the pond face similar problems as well. For this reason, a startup has set itself the goal of revolutionizing the world of roadside assistance.
Enter hlpy, an Italian startup that is reshaping the world of roadside assistance, thanks in part to the services provided in a fully digital mode such as roadside assistance, vehicle repair and continued driver mobility.
Today hlpy announced that it has closed a collection round of around €7.5 million with a Series A oversubscription of €5.1 million. The round was led by Synergo Capital, with participation from CDP Venture Capital and The Techshop, who joined as co-investors, convertible instruments and debt capital.
hlpy will use the new capital injection to accelerate its international development plan and expand the services offered by the digital platform to play a growing key role in the new Mobility 4.0 scenario. hlpy is currently the only vendor that has integrated front-end, customer, operational platform and emergency network in a native digital mode.
Founded in May 2020 by Valerio Chiaronzi, Graziano Cavallo and Enrico Noseda with the aim of reshaping the roadside assistance industry. The co-founders were joined in August 2022 by Stefano Sarti as a founding member to support the international market development process.
Through its innovative digital platform, hlpy aims to add value to insurance companies, car manufacturers, rental car companies and emergency services, and most importantly, to make the service more reliable and safer for users.