Dechert LLP advised Cathay Innovation, Sino French fund and Nokia Growth Partners in connection with raising €31 million in a round for Drivy, the second largest French start-up operation in 2016 with operations in France, Germany and Spain. The funding round was led by Cathay Innovation and Nokia Growth Partners, in addition to three historical shareholders Ecotechnologies, Index Ventures and Via-ID. An additional €18 million will be invested in the 4th round, which will be used for further product innovation and will allow Drivy to expand into new countries, such as Italy, the Netherlands or Belgium.

Founded in 2010, Drivy S.A.S is Europe’s largest peer-to-peer car rental marketplace. With a large network of users, the service offers the freedom and flexibility of having a car without ownership dilemmas such as depreciation, maintenance and security.

Dechert Paris based team advising Cathay Innovation and Nokia Growth Partners was led by partner Matthieu Grollemund in addition to associate Hélène Parent on corporate aspects, associates Thibault Meiers and Victoria Hamel on labor and employment aspects, and associate Antoine Le Touze on tax aspects.