Zen Car II - Electric Carsharing solution in Brussels: Contribute to the development of new (intra-city) electric mobility solutions in Belgium - iCrowdNewswire

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Oct 11, 2016 11:32 AM ET

Zen Car II – Electric Carsharing solution in Brussels: Contribute to the development of new (intra-city) electric mobility solutions in Belgium

iCrowdNewswire - Oct 11, 2016

Zen Car II

Electric Carsharing solution in Brussels

“Contribute to the development of new (intra-city) electric mobility solutions in Belgium”

Dear Crowd Investors,

About one year ago you contributed to one of MyMicroInvest’s most successful campaigns: Zen Car, the first and only electric car-sharing company in Brussels. In the crowdfunding campaign, 165 investors contributed €99,900 in less than one week, together with €1,780,000 committed by professional investors. This financing enabled Zen Car to develop and grow as planned.

In the future, Zen Car has even bigger expansion plans to grow its vehicle fleet, reach new cities and multiply the number of charging stations. And because the community of users is at the center of their business, they have chosen to launch another crowdfunding campaign to finance their ambitious plans. And, this crowdfunding campaign gives you the opportunity to invest at the same valuation as the last investors, including Inventures, Ginion Group and the first crowdfunding campaign.

But first, let’s review the progress Zen Car has made so far:

  • In 2010, the Zen Car team reflected on a 3-part problem that affects Brussels and all its citizens: the growing air pollution produced by intense traffic within the city centre, endless hours lost by commuters in traffic jams, and a lack of parking space due to city planning. Together, they decided to create a new mobility solution to change and improve Brussels for the better, creating solutions to these problems: by creating Zen Car.
  • Zen Car Brussels is incorporated in August 2010, and soon after, major partners joined the concept: and Interparking were among the first to partner with Zen Car and Brussels-Capital Region has agreed on a concession of public domain’s locations.
  • In June 2011, the first Zen Car stations were installed in the city of Brussels: starting the Zen Car adventure.
  • Since then, more than €3.5 million has been invested in Zen Car’s holding company, fueling the company’s growth.
  • Today, Zen Car offers more than 60 electric vehicles, more than 30 charging stations and an average of 3,000 hours booked monthly. Now, Zen Car wants to further expand its business by developing a free floating model, which was recently authorized in June 2016 by the Brussels Capital Region.

Because you are part of the MMI community, we present you the opportunity to participate in this new financing round.

Why invest in Zen Car’s second crowdfunding campaign?

1) Zen Car is growing

Zen Car has shown an important growth in its activities over the past 18 months: from the of number of cars (+70%), number of hours booked in Zen Car (+80%), number of quality partnerships to the number of charging stations available (+85%).

a) The chart below shows the hours booked in Zen Cars, which has grown by 81% between January 2015 and June 2016 (and is a good measure for the use of Zen Car’s service).

Hours booked in zencar

b) Zen Car has expanded its fleet by almost 70% in 18 months, reaching a total fleet of 59 cars in June 2016 (21 in B2B and 38 in B2C), and acquiring both premium and basic electric cars.

Number of zen cars in activity

2) Zen Car is supported by strong investors

Zen Car is backed by high quality financial partners, such as Inventures, an Impact Investment fund of €15M that already invested 500,000 EUR in the company. The Ginion group, famous for their knowledge of the mobility market, has also invested 500.000 EUR in Zen Car in July 2015.

And, you, the crowd, also supported Zen Car during their last crowdfunding campaign of September 2015, making the fundraising a real success.

This crowdfunding campaign gives you the opportunity to invest at the same valuation as Inventures, Ginion Group and the first crowdfunding campaign.

What is Zen Car?

Zen Car is about one thing: ZERO EMISSION, ZERO NOISE.
A new definition of zen at the very heart of Brussels. A small revolution inside and out, the electric car contributes to clean air and produces no noise. It’s transportation without any stress, thanks to a smooth and silent drive for you and the others. The zen begins when you shut the door.

    Zen Car is more than a company offering a smart solution, it is a network of people sharing the same vision. By signing up, you are joining a community of individuals linked to one another by a fleet of electric vehicles that they all share.
    People no longer purchase their car, they hire it when they need it. And when they don’t need it, someone else can.
    Simple, zen and socially aware.
    Using Zen Car is based on three simple actions:
    Become a member, reserve a car and use it, then bring it back. If you buy a prepaid pack, the subscription fees are waived and the Zen Car user credits are 20% off!


Zen Car, the leader in electric car sharing in Belgium, has developed a large fleet of electric vehicles and a network of terminals for the general public (B2C) and businesses (B2B).

Based on the company’s four years of experience, the new management of Zen Car has established an ambitious new expansion plan. This is why the holding company’s capital was increased by 1,867,912 EUR by the existing shareholders and with new strategic investors in July 2015 and April 2016. Since this is a project of social importance, all parties involved want to invite the general public to participate in this innovative project: to invest now in the mobility of tomorrow.


ProblemProbem icons en

There are three major problems that result from the extensive use of cars in a city like Brussels:

1. Pollution: Transport represents 13% of CO2 emissions worldwide.* The effects of this pollution are more severe when there is a high concentration of vehicles in circulation, as is the case in cities.*[Source: UNEP, The Emissions Gap Report 2012] Today, the Belgian automotive fleet consists almost exclusively of thermal vehicles, which are are not only noisy but also result in substantial noise and air pollution. The electric vehicle remains a less common phenomenon.

2. Traffic jams: Belgium is located at the top of the ranking of the most congested countries in Europe and North America. The cities of Brussels and Antwerp are ranked above the cities of New York, Paris and London in terms of congestion.

3. Parking: Like all major European cities, the number of vehicles in Brussels is increasing while parking places remain limited. It is becoming difficult and expensive to park a car on the street.


Solution web

Zen Car has developed a solution that contributes to the integrated mobility of tomorrow. The solution consists of an ELECTRIC CAR SHARING SERVICE and A NETWORK OF CHARGING TERMINALS.

The principle is simple: The user (1) joins free of charge online and receives his Zen Car card (2) they use their car and (3) returns it, either in an available, free space with the free-floating option, or in a departure station.

The user now has a car only when they need one, starting at 6€/hour. With Zen Car you can have a vehicle available at any time.

And more, the user pays only for their rental and Zen Car takes care of the rest:

  • Free parking: every Zen Car vehicle is equipped with an Interparking card to take advantage of free parking.
  • Always a parking place available: Zen Car street parking places are reserved exclusively for Zen Car members.
  • Unlimited mileage: mileage is unlimited within the charging range of the batteries.
  • Insurance, maintenance, cleaning: all are taken care of by Zen Car.


Zen Car has opted for a varied fleet of vehicles. This fleet is suited to a B2C and B2B users.
In June 2016, the fleet was 59 vehicles divided in two categories (urban and premium).
The choice of two-seat and four-seat vehicles was made to offer vehicles suitable for all the uses of Zen Car members.

Capture d e cran 2016 09 05 a  12.35.28

In the context of its B2C activity, Zen Car has developed a network of 33 public and private terminals in Brussels, with a total of 60 recharging points. Zen Car has also received the authorisation to install five new stations, with approximately 70 other locations in the process of validation with the various competent authorities.


Intellectual Property

In the Brussels-Capital region, all operators wishing to offer a car sharing mobility solution must be authorized operators. To date, Zen Car is the only authorized electric car sharing operator in Brussels.
This authorization is a major barrier to entry, and it allows Zen Car to develop its network of electric stations. The company has a strategic advantage compared to the competition.

Major contracts

In the framework of its activities, Zen Car has concluded many contracts with its suppliers (car manufacturers, in-car technology, insurance, website, etc.), with its partners (Interparking, Redevco, Renault, BMW, Blue corner) and with its (B2B) clients Delen, Cofinimmo, S.r.i.b, Befimmo, Desseille, Citizenguard, Cushman & Wakefield, Royal Canin, and City dev Brussels.

Zen car partners


Market positioning
Zen Car has developed its mobility solutions both for the general public and for businesses and public bodies. Its revenue model is therefore linked to the type of client: – B2C clients: Each user pays as a function of his/her private use of the vehicles. The user buys a prepaid card (START pack) or a contract option (ZEN pack). – B2B clients and public bodies: Zen Car put in place leasing-type contracts with businesses and public bodies. The revenue is therefore fixed and monthly. Other revenues can also be considered: 1. Revenue from advertising at stations 2. Miscellaneous revenues (e.g. resale of a car, etc.)
Marketing strategy
The Marketing strategy varies depending on the type of user: 1. B2C Marketing Strategy: improve the visual identity around the stations, standardized colors for the cars and commercial documents, events, loyalty programs, outsourced customer service (free telephone number), Google AdWords and Remarketing campaign. 2. B2B Strategy: Prospecting and relations with businesses and public bodies, implementation of CRM, creation of synergies with new partners to offer a solution appropriate to their needs.
Distribution strategy
1. B2C: Access to cars is through the network of stations. The stations are on public roads. 2. B2B2C: Make cars available through a network of stations installed by private Zen Car partners such as Interparking or Redevco Carrefour (B2B2C). 3. B2B2C: Prospecting and installation of Zen Car mobility solutions with residential property managers. Car shared between the residents of a building (and/or) group of buildings. 4. B2B: Prospecting and installation of Zen Car mobility solutions with business and public-body clients. 5. B2B2B: Prospecting and installation of Zen Car mobility solutions with managers of office buildings such as Cofinimmo, who offer an integrated mobility solution to the businesses renting space. Cars shared between several businesses in the same building.
Internationalization strategy
In the short term, Zen Car will concentrate its efforts on the development of its fleet and its network of stations in Brussels. In the medium term, other Belgian cities will also be equipped.

Main partners

Zen Car has developed numerous partnerships for its activities. All partnerships enable Zen Car to respond better to its users requirements by supplying them with quality solutions.

Zen Car’s main partners are:

  • e-colibri: car-sharing software;
  • Interparking: 16 free places (with sockets) in 8 Brussels car parks;
  • Redevco (Carrefour): 3 free parking places;
  • Cofinimmo: 5 free parking places;
  • BMW: 17 i3 cars;
  • Renault
  • Bluecorner



Market trends

Zen Car benefits from a number of major trends, as demonstrated by a study conducted by Frost & Sullivan (Sept. 2011) where it is observed that the model proposed here is at the crossroads of several of these trends:

In the 70s, Belgian cities undertook major developments. The major urban works projects, in cities, accounted for a growing use of cars, and included construction of tunnels, bridges, viaducts, and more. The cities adapted to the cars. But in the 2000s, cars began to adapt to cities. Many manufacturers engineered ‘city car’ models like the Smart, the Mini, the Twingo, etc.

Today, our behaviour must adapt to enable sustainable mobility in our cities. We must change our mentality: mobility is consumed, it is no longer owned.

From a financial point of view, against the background of the trends of the new economic models and a more collaborative economy of sharing, we are gradually passing from a model of investment (CAPEX) to a model of cost per use (OPEX).


The car sharing market is developing mainly in the United States and in Europe.

Below is an overview of the distribution of the global market and the growth figures:

The market is dominated by major players. The competition can be considered on three levels:

  1. The world

On the global level, Zipcar (bought by Avis, USD $500 million, in 2013) and Hertz are the main players.

  1. Europe

In Europe, players like the Groupe Bolloré in France (Autolib’), the Daimler Mercedes group (Car2Go) and BMW (Drive Now) are the major players in this car sharing market in France, Germany and the Netherlands.

  1. Belgium

In Belgium, Cambio is the only sizeable player to date. It is also the only other player to have car sharing operator authorisation (like Zen Car) in the Brussels Capital region.

Finally, there is indirect competition like that of traditional or Uber type taxi services.

Although Zen Car is the leading player in electric car sharing in Belgium, competition could potentially come from:

  • Existing car sharing players
  • Car manufacturers
  • Vehicle rental companies
  • New internet start-ups (Uber, Car Amigo)

In the near future, high competition is expected from differents actors, notably since the announcement of free-floating. Major actors (Autolib, Car2Go, DriveNow, Europcar, Alphabet) position themselves regarding the Brussels carsharing market.

It must nevertheless be noted that:

  • There are only two players in Belgium. It is highly probable that others will become involved in the market.
  • The market is dominated by thermal cars
  • Intra-city electric cars are on the rise

Historical accounts

Zen Car Holding is holding 100% of Zen Car Brussels and has no other activity than financing the activity of Zen Car Brussels. The accounts of Zen Car Holding and Zen Car Brussels, as well as the consolidated accounts, are provided in the Prospectus.

Revenue drivers

A 5-year financial plan for Zen Car Group has been developed by Zen Car’s management, based on the following assumptions. The results of the consolidated account at 31 December 2015 are given for comparison purpose. The numbers presented below are expressed in EUR.

Volume and prices are expected to evolve in the following manner:

Volumes and prices

These prices and volumes are expected to generate the following revenues:


The cost will evolve in parallel:


Based on these assumptions, the financial plan is presented below:

Income statementAssetsLiabilities

Large sst

Serge Starckmann

commercial CEO

Serge has led Zen Car since the summer of 2015. His vision for Zen Car is simple: to provide an amazing mobility experience to Belgian citizens. His vast experience draws on his work as a Manager and in Sales. Serge was Sales Manager at Bergerat Monnoyer (Belgique) the Belgian distributor of Caterpillar. He had also launched a company that sells wooden pellets for heating systems.

Large dm

Dominique Mastrosimone

commercial Manager

Dominique joined the Zen Car team in August 2015. She is in charge of the B2B segment. Dominique has experience in different positions including: four and a half years as Agency Director at Which Belgium, seven years in the after sales department at Checkpoint Meto, seven years as corporate sales representative at Mobistar, and two years in B2B with Proximus. Dominique has a masters degree in international trade.

Large cvh

Cedric van Houtte

operational Manager

Cédric joined Zen Car in March 2011, as Operations Manager. Cédric was previously a freelancer, where he gained expertise in the Tourism and the Hotel industry. Cédric has a degree in Travel & Tourism Management.

Large pablo

Pablo Villalta Vicente

technical Staff

Pablo joined Zen Car in November 2011, he is responsible for all of the cars in the fleet and for the maintenance of the electric terminals. He is a trained auto mechanic.


Contact Information:

Serge Starckmann

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