Chauffeur-prive investment from Xange, CM-CIC

France's leading private-hire driver service secures €5 million in first-round funding from two venture capital funds

Created in March 2012, by Yan Hascoet, Othmane Bouhlal and Omar Benmoussa, ChauffeurPrivé was the first private-hire driver company to offer a fixed-price service. Profitable after just one year, Chauffeur-Privé boasts the market’s most complete offering of services with a choice of vehicle types (economy, sedan or van), immediate or advance booking, and a fixed price that is set when the order is placed.

With record sales in 2014 of 15 to 20 million euros, after not quite three years of business, the French startup has served some 300,000 customers in 68 French cities. Chauffeur-Privé does not intend to stop there however since it is aiming for annual revenue of 200 to 300 million euros in five years and plans to continue creating thousands of jobs in France and Europe.

The leader of the French market’s private-hire driver segment intends to use this funding to develop its service in France and in Europe, by expanding its vehicle fleet and boosting its marketing and sales organization.

Expressing his excitement about this tremendous opportunity, Yan Hascoet, Chauffeur-Privé’s CEO, Chairman and co-founder, said: “We are happy to see how far we have come since our beginnings and to be able to accelerate the growth of a service that satisfies thousands of customers and drivers every day. Our company has been profitable for two years now and our fundamentals are very sound, since both our customers and drivers are happy. This funding will enable us to achieve our ambitious objectives of expanding our business beyond Paris and France, and accelerating the marketing of our new Executive service, which is already proving to be quite successful.”