Assets

YouDrive
Carsharing

Undisclosed

PCG’s investment

2019 –
present

Project duration

Russia

Geographies

YouDrive provides short-term car rental services in Moscow, St. Petersburg, Sochi and Yekaterinburg being one of the market leaders.

The project is implemented in partnership with Mail.Ru Group. The decision to enter the project and start financing the Company took place in a situation when the emergence of a large rapidly growing player accelerated the formation of the market itself and set other players with stringent requirements for further development.

YouDrive has one of the most technologically advanced IT platforms on the market, a high level of customer loyalty, an excellent reputation, and a well-coordinated management team, which makes the Company an attractive platform for development.

For both partners, YouDrive is a strategic investment. The goal of the project is to scale the business significantly, as well as to develop new projects related to short-term rental services.

In addition to financing the Company, partners also provide YouDrive with operational support, complementing and expanding the Company's expertise, including cooperation with car manufacturers, leasing companies, banks, as well as developing new products.

From March to August 2019, Proxima Capital Group owned a minority stake in the Company. In August 2019, the joint venture of Mail.Ru Group and Proxima Capital Group gained control in YouDrive. During this time, the following activities were implemented:

June 2019 – signing a strategic partnership agreement with Nissan and VEB on the supply of 10,000 Nissan Quashqai cars, adding 250 cars in St. Petersburg
September 2019 – additional financing of the Company
November 2019 – the start of active development: adding 500 Nissan Quashqai cars in Moscow

Role
PCG