Nabobil
Norwegian peer to peer marketplace for under-utilised personal vehicles.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 Valuation: €0.0 8.0x EV/Revenue | round | |
$12.0m Valuation: $12.0m 2.2x EV/Revenue | Acquisition | ||
| Total Funding | 000k | ||
| NOK | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 12 % | 504 % | (42 %) | 37 % | 3 % | (23 %) | (1 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (119 %) | 42 % | 6 % | 6 % | 13 % | 8 % | 15 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Nabobil, which now operates as Getaround Norge, was established in 2015 by a group of founders including Even Heggernes, Karl-Axel Knutsen, Jacob Tveraabak, Jenny Sjögren, and Thea Høgåsen. Hailing from diverse backgrounds in organizations such as McKinsey & Company and Schibsted, the founders identified an opportunity within the burgeoning sharing economy to address the underutilization of private vehicles. Their collective expertise in strategy, technology, and market development provided a strong foundation for building a peer-to-peer car rental platform.
The company's core business is a digital marketplace that facilitates the rental of private cars. It connects car owners who are not using their vehicles with individuals who need short-term access to a car, thereby creating a new income stream for owners and providing a flexible, often more affordable, alternative to traditional car rental services for renters. The business model is transactional, earning revenue by taking a commission from each rental transaction conducted through its platform. Insurance for the rentals is provided in partnership with a major insurance company, which was a critical step in building user trust and a key component of their early success. The target market includes urban dwellers who may not own a car due to costs and parking limitations, as well as anyone needing a vehicle for specific purposes like moving or weekend trips.
A significant milestone in the company's trajectory was the acquisition by the American peer-to-peer car-sharing giant Getaround in 2019. This strategic move integrated Nabobil into a global network, leading to its rebranding as Getaround Norge. The acquisition provided access to Getaround's established technology and a larger international community, while allowing the core service to continue its growth within the Norwegian market. Following the acquisition, Even Heggernes continued to lead the Norwegian operations. The platform's primary offering is its seamless, technology-driven rental experience, which includes features like keyless entry technology, allowing renters to unlock cars using the Getaround app, further simplifying the rental process.
Keywords: peer-to-peer car rental, sharing economy, car sharing, mobility service, digital marketplace, collaborative consumption, vehicle sharing, on-demand cars, car hire, automotive technology