Australia’s Camplify Buys European RV Rental Firm PaulCamper

Camplify, a Sydney, Australia-based peer-to-peer RV rental platform, is acquiring Germany-based PaulCamper for is A$47.6 million ($29.5 million US), according to a release.
Camplify is also raising A$8.5 million to fund growth efforts including expansion of its insurance business.

Camplify operates in Australia, the United Kingdom, New Zealand and Spain. The acquisition adds operations in Germany – which it says is Europe’s largest RV market – as well as in Austria and the Netherlands, doubling the size of Camplify’s business as measured by customers, fleet size, bookings and gross profit.

“This acquisition delivers Camplify a strategic and targeted growth opportunity in Europe, securing the largest key market, Germany. It provides Camplify with an excellent team of digital marketplace professionals based in Europe, allowing us as a group to optimize and look for expansion opportunities,” says Justin Hales, Camplify founder and CEO.

“I am extremely impressed by the PaulCamper operation and excited by the ability these transactions provide us to build our business and accelerate our pathway toward cashflow positive position and profitability with significant ability to grow revenue through vertically integrated products”

As part of the acquisition, Camplify gains PaulCamper’s insurance broker division, which it says will “be a key growth engine for the business moving forward.”

PaulCamper founder and CEO Dirk Fehse will stay on as head of Camplify’s European operations.

“The PaulCamper team, shareholders and myself are excited about this new opportunity to work alongside Camplify,” Fehse says.

“In 2019 Justin and myself met and discussed our shared vision and desire to create a community of RV owners globally who have the passion to share their RVs. As a business who has secured key markets in Europe, PaulCamper is pleased to take this next step and be a part of a global public company on the journey with Camplify.”

Founded in 2013, PaulCamper has a fleet of more than 5,500 RVs in Germany, Austria and the Netherlands. The company’s last funding was a Series A round of €7 million in 2019.

Peer-to-peer RV marketplaces around the globe have seen substantial growth in bookings and investor interest since the start of the pandemic. U.S.-based Outdoorsy, RVshare and Harvest Hosts have all reported booking rates higher than pre-pandemic levels.

Source: https://rvbusiness.com/australias-camplify-buys-european-rv-rental-firm-paulcamper/