Bryanston Group AG acquires stake in Belkacar LTD
Bryanston Group AG has invested several million euros in the Moscow based car-sharing service, BelkaCar (effective Dec 13, 2016).
Since its launch in October 2016, BelkaCar has already become one of the key players in the Moscow car-sharing market with a 350 car-fleet and great expansion plans for the near future. BelkaCar is the only player offering a business-to-business (B2B) car-sharing service.
The invested capital will be used to grow BelkaCar’s presence in Moscow and expand on regional projects. This investment will help to achieve a planned 30% market share.
According to Moscow Transportation Department, there are approximately 1 200 car-sharing vehicles operating in Moscow at the moment whilst the market’s capacity is around 10 000 vehicles. In 2016, the market has grown by over 400% compared to 2015.
«Noting the overall Russian investment climate, most international investors are confident in Russia’s economic potential and are ready to step up investments in the next few years. We are convinced that the Russian market will develop positively and our BelkaCar investment clearly reflects our confidence and long-term commitment to the Russian market. As for the car-sharing growth potential, it is evident that the rapid development of the sharing economy is the key game changer of the 21st century. We found that BelkaCar has all the necessary factors for success, including a great team, a modern IT platform and competitive product, to expand quickly and extensively in line with the overall car-sharing industry», – commented Ilnur Azmukhanov, investment manager of Bryanston CIS
«We have been looking for a strategic investor (smart money) for quite a long time and with Bryanston, we believe that we have finally found the right partner. We are pleased with our choice since their expertise as an international consulting and investment firm will help us to become a world-class service company. Currently only 10% of the market is covered, which leaves us with substantial room for our ambitious plans», – stressed Loriana Sardar, co-founder of BelkaCar.
The project was founded by three co-founders: Ekaterina Makarova, Elena Muradova and Loriana Sardar. Julian Espiritu, co-founder of Zipcar (the largest car-sharing operator in the USA) and managing partner of Abrams CarSharing Advisors has been coaching the team from start-up.
Launch of the project has been financed by a bridge financing from the founder of Vimpelcom (Beeline) Dmitry Zimin. Seed-round: co-founders invested their own funds.
Number of vehicles: 100 at launch in October 2016, 250 by the end of 2016, 350 by Jan 22, 2017. It is planned to have 1 000 vehicles by the end of 2017.
Market segments: individual and corporate customers.
Regional Expansion: 2017– St. Petersburg & several other cities in Russia and CIS.
Bryanston is a Swiss based global management consulting, technology and investment company. The firm’s investment angle combines an active approach with specific sector focuses where they are able to add value. Bryanston deploys its capital mainly along three verticals, which are Industrial tech, Cleantech and Emerging markets mid-class.
BelkaCar investment was originated by Bryanston’s CIS office, which is one of 10 offices globally.
Ilnur Azmukhanov – Bryanston investment manager leading CIS investments
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