Moving Intelligence B.V. raises capital to accelerate international growth
ZALTBOMMEL, Netherlands, August 27, 2020 – Volpi Capital, Pan-European tech buy-out specialist, has made an investment in Moving Intelligence B.V., the Dutch leader in aftermarket vehicle security, fleet management and telematics solutions, alongside co-investor Surmount Ventures, a Dutch venture capital investor. The new shareholders will actively support the management of Moving Intelligence to realize their domestic and international growth ambitions to 10 new European markets over the coming years.
Founded in 1999, Moving Intelligence offers the most advanced services in the fields of vehicle security, trip registration, fleet management, workforce monitoring and asset tracking, using hardware that is invisibly built into vehicles and equipment, and software for information gathering and real-time data processing and visualization. Moving Intelligence is the market leader in the Netherlands and works with a wide range of national and international OEMs, leasing companies, insurers, corporates and SMEs across a broad range of industries including workforce management, asset management and construction, amongst others.
Moving Intelligence has demonstrated impressive growth over the last few years with EBITDA more than doubling over 2017-2019. The company has G4S and Vodafone as global partners, presence in three European countries and 34 employees. The company works for established European car manufacturers, such as Audi, Bentley, BMW, Lamborghini, Mercedes-Benz and Volkswagen and has a broad distribution network of sales and installation partners.
In partnership with Volpi Capital and Surmount Ventures, the company will expand to 10 new European markets and expects to grow with an additional 45 employees across Europe over the coming years. This ambition will be supported by a focus on Moving Intelligence’s core offering and through a targeted buy-and-build strategy. Significant opportunity exists for fleet customers and other mobile assets including working materials, construction, boats, and motorbikes.
Patrick Horst, CEO Moving Intelligence: “We are very pleased to have Volpi Capital and Surmount Ventures on board, who both have a deep industrial knowledge and understanding of our business and market opportunities. We are looking forward to further drive our international expansion and strengthen our leading position in the vehicle and equipment security and fleet management markets. Moreover, this joining of forces creates more room to invest in the technological innovation of our automotive solutions by further improving our own online software platform and mobile app. We are ready to expand on every level and we do believe Volpi Capital and Surmount Ventures are the right partners with whom to achieve this.”
Marco Sodi, Volpi Capital: “We have been researching the security and telematics solutions for the automotive sector for many years and when we started talking with Patrick and Moving Intelligence, the strengths of the company and management team were immediately apparent. We are especially motivated by the growth prospects for the company, particularly across B2B markets and internationally. Through our focus on tech-enabled B2B software, data and services, we have a good understanding of Moving Intelligence’s business model and the opportunities that lie ahead. Looking at their solid track record, established client base, thorough market research and innovative solutions we are confident they will fulfill their ambition to bring vehicle and equipment security to additional European markets over the next few years. We are looking forward to working with such a successful entrepreneur and supporting the team on their journey.”
Roelof Bijlsma, Surmount Ventures: “We are always looking for companies that challenge the status quo and bring innovation with impact. Moving Intelligence is such a company. They are unique in developing their own solutions which can be applied to a wide range of mobility services. Serving a large market, we see a lot of growth potential, especially across Europe. I am confident we can support them in creating significant growth.”
The vision, strategy and culture of Moving Intelligence will be consistent with the new investment partners. Furthermore, Moving Intelligence will continue to give its customers the same support and service it has always done. The company plans to accelerate its international growth in the upcoming years and to further invest in innovative asset software solutions.
Founded in 1999, Moving Intelligence enables management of all things moving. With hardware they integrate invisibly and software that makes information visible. The company offers the most advanced services in the field of security, trip registration, fleet management and sustainable mobility, allowing clients to monitor, control and safeguard all things moving worldwide. The company serves a wide range of clients: multinational or retailer, fleet manager or proud owner of a vintage car. Moving Intelligence has over 20 years of experience, is market leader in the Netherlands and has established presences in Belgium and Greece.
Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million. More information: volpicapital.com
Surmount Ventures is a specialist Dutch mid-market private equity firm. Lead by entrepreneur-investors Surmount is looking for companies that challenge the status quo and bring new ideas to life. We are open to invest across every sector where financial success creates meaningful impact. Our main focus is on companies bringing innovation with impact to their market segment and customer base. The firm, which was founded in 2019 by Roelof Bijlsma and Rene Schelvis, closed its first fund (Surmount Growth and Innovation Fund I) in June 2020 with commitments of €44 million. More information: surmount.ventures