Under the terms of the convertible loan, Auden can convert its position at any time into shares, which based on the portfolio company’s current valuation equates to a shareholding of over 10%.
The company will use the funds to continue to expand operations.
JimDrive offers European & roadside assistance with all-round services. In addition to its basic service package for Germany (€29.99), supported by a nationwide fleet of more than 1,900 service vehicles, the company also offers a comprehensive Europe-wide package (€49.99), including emergency service, towing, vehicle removal and transportation, pick-up service, and substitute rental car.
These and all other benefits also apply to the customer’s spouse or domestic partner when driving the insured vehicle.
Investors in the company also include Motor Presse Stuttgart, an automotive publishing group owned by the founder of Germany’s Check24 portal group and by Germany’s ProSiebenSat.1 Media group.