Polar Light Capital increases its stake in GoMore

GoMore – Scandinavia’s biggest community for carpooling and peer-to-peer car rental – has recently acquired a competitor in Spain. To bankroll the acquisition and further growth the Danish startup has increased their funding by an undisclosed amount in the millions of DKK.

GoMore which recently passed 500,000 users, is growing fast and the strategy is clear: Consolidate the position as market leader in Scandinavia and expand to several new markets.

“We’ve been working hard to make sure our product is the best it can possibly be by investing in brand new apps for iPhone and Android among other things. Now the time has come to show the world what we can really do” says Matias Dalsgaard, founder and CEO of GoMore.

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Among this round’s investors are the Austrian fund Polar Light Capital and Kaare Danielsen, founder of Jobindex and investor in several other Danish startups including Firmafon and SimpleSite.

“I see great potential in GoMore” says Danielsen. “They’ve proved capable of establishing themselves as the leading actor in the Scandinavian markets and the acquisition of Amovens in Spain was a very smart move.”

Three New Markets in 2015
At GoMore the confidence from the investors is highly appreciated.

“We could choose to break even or even make a profit but for now we’re investing in growth. Our plan is to launch GoMore in three new markets in 2015” says Dalsgaard.

It’s only about six months since GoMore last raised capital from, among others, Polar Light Capital and SEED Capital.