About RAC
RAC is a company based in Walsall (United Kingdom) founded in 1897 was acquired by CVC in December 2015.. RAC has raised $20.37 million across 2 funding rounds from investors including Aviva, The Carlyle Group and CVC. RAC has completed 2 acquisitions, including Dekk1 and Nebula Systems. RAC offers products and services including Breakdown Cover, Car Insurance, and Mobile Mechanics. RAC operates in a competitive market with competitors including Generali, Aviva, Lloyd’s, Munich Re and NN Group, among others.
- Headquarter Walsall, United Kingdom
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Phone
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Website
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Social
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- Legal Name Rac Financial Services Limited
- Date of Incorporation 06 Jul, 2004
- Jurisdiction WALSALL
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Products & Services of RAC
RAC offers a comprehensive portfolio of products and services, including Breakdown Cover, Car Insurance, and Mobile Mechanics. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Assists with vehicle breakdowns and roadside repairs quickly.
Provides coverage for vehicles against accidents and damages.
Offers on-site vehicle servicing and repairs at home.
Funding Insights of RAC
RAC has successfully raised a total of $20.37M across 2 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $71.95 million completed in November 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Debt – Conventional — $72.0M
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First Round
First Round
(01 Nov 2011)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2020 | Amount | Debt – Conventional - RAC | Valuation |
investors |
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| Nov, 2011 | Amount | Private Equity Round - RAC | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in RAC
RAC has secured backing from 5 investors, including venture fund and institutional investors. Prominent investors backing the company include Aviva, The Carlyle Group and CVC. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity firm focused on energy transition and sustainable investments across Europe.
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Founded Year | Domain | Location | |
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Mezzanine financing and equity investments are provided by CVC.
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Founded Year | Domain | Location | |
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Sovereign wealth is managed and private equity investments are facilitated.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by RAC
RAC has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Dekk1 and Nebula Systems. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cloud-based automotive diagnostic and analytics services are provided.
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2013 | ||||
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Automotive tires are sold through an online platform.
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1998 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - RAC
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Rac Comparisons
Competitors of RAC
RAC operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Generali, Aviva, Lloyd’s, Munich Re and NN Group, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Diversified insurance and asset management services are offered globally.
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| domain | founded_year | HQ Location |
Insurance and asset management services are offered in multiple regions.
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| domain | founded_year | HQ Location |
Insurance carrier services are provided globally by Lloyd’s.
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| domain | founded_year | HQ Location |
Platform offering insurance risk management solutions
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| domain | founded_year | HQ Location |
Commercial bank
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Rac
Frequently Asked Questions about RAC
When was RAC founded?
RAC was founded in 1897 and raised its 1st funding round 114 years after it was founded.
Where is RAC located?
RAC is headquartered in Walsall, United Kingdom. It is registered at Walsall, West Midlands, United Kingdom.
Who is the current CEO of RAC?
Dave Hobday is the current CEO of RAC.
Is RAC a funded company?
RAC is a funded company, having raised a total of $20.37M across 2 funding rounds to date. The company's 1st funding round was a Private Equity Round of $20.37M, raised on Nov 01, 2011.
What does RAC do?
RAC was founded in 1897 and is headquartered in Walsall, United Kingdom. The company operates in the automotive sector as an online platform where parts and accessories for vehicles are provided. Products such as batteries, mats, motorcycle components, maintenance items, cleaning tools, chargers, boosters, car security devices, and electric vehicle parts are available. Purchases are completed by users submitting payment and personal details.
What products or services does RAC offer?
RAC offers Breakdown Cover, Car Insurance, and Mobile Mechanics.
How many acquisitions has RAC made?
RAC has made 2 acquisitions, including Dekk1, and Nebula Systems.
Who are RAC's investors?
RAC has 5 investors. Key investors include Aviva, The Carlyle Group, CVC, Omnes Capital, and GIC.
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