Ornikar in a €100M led by KKR

Ornikar, a Paris, France-based driving school, announced that it raised €100 million ($120 million) in Series C funding.

The money was raised from investors led by US-based KKR, with participation from earlier investors Idinvest, BPI, Elaia, Brighteye, and H14. The deal values the company at $750 million.

Proceeds will be used to accelerate the international development under the Onroad brand, develop new learning resources and expand its range of driver services.

Ornikar, founded in 2013 by Alexandre Chartier and CEO Benjamin Gaignault, built an online operation providing driving school lessons, in a cheaper, uncomplicated and faster manner. In 2020, the company expanded into France’s €17 billion ($20 billion) car insurance market with the launch of Ornikar Assurance, a product designed for the digital world with a highly intuitive user experience and services tailored to each individual driver’s needs.

Prior to this round, Ornikar raised about $54 million.