May 20th 2025
Key Facts:
· Total of €62.5 million raised over two funding tranches (2024-2025)
· Investment to accelerate platform development and global hiring (100+ new positions)
· Indie Campers operates over 8,000 vehicles in 80+ locations across 3 continents
Indie Campers, the leading global platform for campervan rentals and road trip experiences, has successfully closed the second tranche of its latest funding round, bringing the total investment secured over the past year to €62.5 million. This two-part funding round stands among the largest raised by a Portuguese traveltech company to date.
Founded in 2013 in Lisbon, Indie Campers has scaled rapidly to become a global reference in flexible RV (Recreational Vehicle) travel. The company offers the world’s broadest geographical coverage in its segment through a digital-first platform that combines an owned fleet with a peer-to-peer marketplace. Indie Campers operates over 8,000 RVs in more than 80 cities across Europe, North America, and Oceania. It is headquartered in Lisbon and maintains offices in Los Angeles, Mexico City, and Sydney.
The newly raised €27.5 million completes the round initiated in 2024 (€35 million) and will be allocated to further advancing Indie Campers’ digital platform and supporting its continued global expansion. A significant portion of the investment will also go toward strengthening high-skilled recruitment, with over 100 new roles planned across the company’s Lisbon headquarters and regional management offices.
Investor Confidence Remains Strong
The round was again led by Indico Capital Partners, with continued backing from Cedrus, Buenavista, and Banco de Fomento Português. The deal was supported by law firm Proença de Carvalho, with legal counsel led by André Matias de Almeida. The completion of this second tranche reflects the strong results achieved over the past year, validating Indie Campers’ performance and reinforcing investor confidence.
“This operation is a testament to the strategic vision and execution capacity of Indie Campers, and we are proud to have supported a transaction that reflects continued investor confidence in one of Portugal’s standout growth companies,” said André Matias de Almeida.
Quotes from Founders and Investors
“We’re thrilled to strengthen our position as the world’s leading global RV rental platform,” said Indie Campers Founder and CEO Hugo Oliveira. “This funding will enable us to double down on product innovation, while continuing to attract top global talent to our team, and delivering customized support to every customer.”
Stephan de Moraes, Managing General Partner at Indico Capital Partners, added: “The completion of the second stage of the funding round announced last year is a key step in positioning Indie Campers, already a large company, to become a global category leader. We are fortunate to partner with such an ambitious and capable team.”
Indie Campers is your go-to platform for road trips. With over a decade of experience, Indie Campers boasts the broadest geographical coverage globally in campervan rentals. Operating since 2013, Indie Campers provides an innovative hybrid platform that combines an owned fleet with a peer-to-peer marketplace, meeting diverse consumer needs. Currently operating in more than 80 locations across Europe, North America, and Oceania, Indie Campers has a fleet of over 8,000 owned vehicles and additional vehicles available through its marketplace. Trusted by thousands of customers worldwide, our commitment to customer satisfaction continues to drive our efforts to enhance every traveler’s experience.Individual and professional hosts, we operate across Europe, North America, and Oceania and are physically present in over 70 cities.
Indico Capital Partners is a leading independent Venture Capital fund manager based in Portugal, investing in Iberian related global and sustainable technology companies. Indico funds invest in deep tech, software as a service, marketplaces, artificial intelligence, internet of things, fintech, cybersecurity, web3 and ocean related companies. Indico´s range of investments goes, mostly, from Pre-Seed to Series B (100k and 10M euros) in Portuguese and Spanish related startups. Indico is often the first investor in a startup and, given the teams´ backgrounds, works very closely with portfolio companies. Since 2019, Indico has invested more than 100 million euros in 51
companies, which have raised more than 2 billion euros from global investors.
Indico R&D & Co-investment VC Fund II - Fundo de Capital de Risco Fechado investment in Indie Campers is supported by Plano de Recuperação e Resiliência (“PRR”), from the Portuguese Republic and managed by Banco Português de Fomento SA, with the financial backing of the European Union under Next Generation EU.
