Home / Deals / Advised Heetch on its Series B with Cathay Innovation, Total Ventures and existing investors Idinvest Partners, Alven, Felix Capital and Via-ID

Advised Heetch on its Series B with Cathay Innovation, Total Ventures and existing investors Idinvest Partners, Alven, Felix Capital and Via-ID
May 2019
growth investment by
$42 million
  • Sector: Media & Internet
  • Deal Type: Founder-led Businesses; Private Capital
  • Engagement type: Fundraise
  • Size: $42 million
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Arma Partners is pleased to announce that it has acted as exclusive financial advisor to Heetch in connection with the transaction, which sees investments by Cathay Innovation, Total Ventures as well as existing investors Idinvest Partners, Alven, Felix Capital and Via-ID.

Heetch aims to make mobility services in large European and African cities more affordable, accessible and responsible. The company was launched in France in 2013 under a peer-to-peer model and set out to solve the urban transportation needs of the younger generations. Heetch pivoted successfully to a professional driver model at the beginning of 2017. Heetch currently operates in France, Belgium, Morocco and Ivory Coast, with plans to launch in many more European and African cities in the near future.

The transaction highlights Arma Partners’ commitment to European-based disruptors and challengers with great potential and the founders and teams behind them. It also builds on the firm’s track record in raising growth capital for digital marketplaces, in the mobility space and in France.

  • Ride-sharing platform launched in France in 2013
  • Originally, peer-to-peer solution with a focus on nights/weekends for young people; pivoted successfully at the beginning of 2017 to a 24/7 professional driver model
  • One of the top 3 mobility players in France competing with Uber, Taxify and Kapten (ex-Chauffeur Privé)
  • Strong consumer brand affinity and a real sense of community, in particular among drivers, stemming from Heetch’s roots in the sharing economy and a number of product features making the app more user-friendly than others
  • Heetch does not rely on subsidies to drive growth and maintain liquidity in the marketplace, an unusual trait in the global ride-sharing market
  • 15% commission rate taken from drivers off their gross bookings (Uber: 25%)
  • Currently operates in France, Belgium, Morocco and Ivory Coast
  • The transaction sees investments by Cathay Innovation, Total Ventures as well as existing investors Idinvest Partners, Alven, Felix Capital and Via-ID. Ongoing extension with an african investor
  • Cathay Innovation is a global venture capital fund, which supports digital entrepreneurs across North America, Europe, China and Africa
  • Total Ventures is the venture capital arm of French energy major Total. Its investments support the development of companies with innovative technologies and business models
  • Idinvest Partners is a leading European mid-market private equity firm with €8bn under management. It has developed several areas of expertise including innovative startup venture capital transactions
  • Alven is an early-stage venture capital firm with over $500 million under management. Alven backs primarily ambitious French entrepreneurs in the digital technology space
  • Felix Capital is a venture firm at the intersection of technology and creativity, focused on opportunities in digital lifestyle
  • Via-ID is the VC arm of Mobivia, the European leader for automobile services and new mobility solutions (Norauto, Midas, ATU)
  • Investments in the technology platform and development/engineering teams
  • International expansion, primarily across French-speaking countries in Africa
  • Preparation of a detailed financial model and positioning materials
  • Canvassing and outreach to a global potential investor universe
  • Term sheet negotiations – valuation, structure, governance, liquidity rights
  • Due diligence facilitation
  • End-to-end process management and coordination with all parties
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