LESS, the urban car-sharing app, raises €16M

LESS, the instant and inter-connected urban car-sharing app, has secured 16 million Euros in its first round of fundraising ("Series A"). This round was led by Index Ventures and Daphni. The founders of the company also contributed to the funds raised.

LESS offers an innovative urban car-sharing service based on a community of inter-connected drivers.

LESS is all about responsible, sustainable transport, helping to create tomorrow’s towns and cities.

LESS means fewer cars, less congestion and less pollution.

This fundraising process illustrates the willingness and ambition of European venture capitalists when it comes to the transport sector, an industry that is undergoing significant changes, and in which France is playing a leading role.

Dominique Vidal (Index Ventures) and Marie Ekeland (Daphni) have a long history with JB Rudelle and are joining LESS's board of directors. They were both investors at Criteo, and sat on its board until it was listed on Nasdaq in 2013.

This round of fundraising will speed up the launch of LESS in the Paris region. Initially, the LESS mobile app will only be available to drivers. A second phase will see it gradually rolled out to passengers.

About LESS, the urban car-sharing app

Less is more.

LESS's goal is to help people travel for less in urban environments with fewer cars, less congestion and less pollution. LESS is a sustainable initiative designed to optimise consumption.

LESS was set up by a group of experienced entrepreneurs including JB Rudelle (Criteo), Romain Niccoli (Criteo), Florent Boutellier (Navx) and Francis Cohen (Sien).

To find out more, download our mobile app from the store, or visit www.less.com