Carsup, Europe's Leading Service Company for Exceptional Cars, Sets out to Conquer London
The start-up is exporting its unique 100% French Touch model and is aiming to generate more than £1.5m in ARR (annual recurring revenue) in this market by the end of 2024
Created in 2019 by Samuel Lelarge and Frédéric Lasnier - since joined by Sébastien Cochois - Carsup is democratizing the concierge & services market for exceptional cars. The start-up, which recorded sales of ¬6m in 2022, is aiming for ¬10m in 2023, consolidating its position as European leader in its market. Carsup currently operates from more than 15 sites (Paris, Bordeaux, Brussels, Nice, Geneva, etc.), has 50 employees to date (with 10 new recruits planned by the end of the year) and manages more than 1,500 cars.
London, a strategic market for Carsup
With a new ¬6m round of funding raised in June, Carsup has been able to step up the pace of its international development and is announcing its arrival in the UK, with the opening of 2 car storages/concierge centers in London in Chelsea and Pimlico areas (early 2024), with a total capacity of 250 places and a monthly subscription of £350 ex-VAT. The start-up is aiming to have more than 400 cars under management across the Channel, with an ARR of £1.5 million by the end of 2024.
In the realm of luxury cars and ultra-select enthusiasts' clubs and operating in a fragmented market for car storage services/solutions (the UK market is more than 10 times bigger than in France!), Carsup intends to rise to the challenge and disrupt the sector, by offering all the 2.0 concierge services that make the company unique today.
"Entering the London/UK market is like entering the big leagues! Car storage is a cultural thing here: it's where it was born and where it's developed the most. In France, only 4 or 5 players have more than 200 cars under management. In the UK, there are ten or so players managing more than 400 cars - that's another world! This is very positive for Carsup, which will be able to test its 'full service/personal assistant' model for car collectors against Anglo-Saxon consumer habits. We'll be able to measure ourselves against the best players in the market. We'll be able to draw valuable lessons from this to shape the development of our offering," says Sébastien Cochois, COO and Head of Development at Carsup.
Carsup: a unique positioning and a new service offering model
In addition to its storage solutions, Carsup meets all the specific needs of exceptional cars owners, whether old or modern: competitively priced secure parking, maintenance in operational condition with the best craftsmen, purchase, and sale of exceptional vehicles at the best price, administrative management (insurance, vehicle registration), etc., as well as sharing experiences with enthusiasts through Club Carsup. This support also benefits certain professionals in the sector: for example, Carsup is the strategic partner of the largest auction houses (Bonhams, Artcurial, Collector Cars Auction), which rely on Carsup's expertise to manage the entire after-sales process (cosmetic preparation, car check-ups, storage, administrative procedures, car delivery, etc.).
A key objective: digitalize the exceptional car sector
Operating in a fragmented market that is under-digitized but growing (+2% worldwide), Carsup aims to be a major player in the digital transformation of the exceptional motor vehicle market, with a 360°, innovative and customer-focused approach.
Carsup, everywhere
The start-up, which launched its mobile application in 2023, is revolutionizing the sector. The application, which is designed to digitalize all Carsup services, was previously reserved for its members who were physical customers in its Garages. It will soon be open to a larger number of collectors thanks to a new 100% digital offer. This will enable new privileged members to benefit from all the concierge services at home and to access the world of Club Carsup (numerous private events, access to services, partner advantages, access to Carsup private sales, etc.), all while parked elsewhere than in the network of secure Garages.
About Carsup
Created in 2019 by Samuel Lelarge and Frédéric Lasnier - since joined by Sébastien Cochois - Carsup is democratizing the concierge and services market for exceptional cars. With more than 1,500 cars under management, Carsup is now the leading concierge service in Europe, with more than 15 sites, including Paris, London, Geneva, Brussels, Nice, Lyon and Bordeaux. Carsup is growing rapidly, with a turnover of ¬6 million by 2022 and a workforce of 50. By 2023, Carsup will have opened almost 20 new garages in France and Europe.
More information : carsup.io
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