Munich-based camper van rental company roadsurfer has secured €25 million in venture debt financing from BBVA to fuel its international expansion across Europe and North America. The funding, supported by the European Investment Fund under the InvestEU programme, represents another milestone for the outdoor mobility specialist as it strengthens its market presence.
Strategic Growth Through Debt Financing
The venture debt transaction with BBVA demonstrates roadsurfer’s comprehensive approach to capital raising. Co-founder and CEO Markus Dickhardt emphasized the partnership’s strategic value.
“These financing rounds reflect our partners’ confidence in our business model. The collaboration with BBVA was marked by constructive dialogue and a shared understanding of long-term value creation” ~ Markus Dickhardt, co-founder and CEO.
This latest funding complements a previous €60 million asset-backed securitization operation led by Macquarie Group, bringing the company’s total financing capacity to over €500 million. The multi-layered financing strategy reflects roadsurfer’s commitment to sustainable growth while maintaining operational flexibility.
Market Position and Operations
Since its establishment in 2016 by founders Markus Dickhard, Stephie Niemann, Christoph Niemann, Jean-Marie Klein, and Susanne Dickhardt, roadsurfer has built a substantial presence in the camper van rental market. The company currently manages a fleet of nearly 10,000 vehicles distributed across more than 90 locations in 16 countries, including Germany, Spain, France, Portugal, the United States, and Canada.
The company’s business model extends beyond traditional rentals to include subscription services, sales operations, and its roadsurfer Spots platform, which connects travelers with private landowners for camping experiences. This diversified approach has contributed to roadsurfer’s financial performance, with 2023 sales reaching approximately €114 million and consolidated annual profit of around €1.6 million.
BBVA’s Investment Rationale
BBVA’s decision to provide venture debt financing aligns with the bank’s focus on supporting high-growth digital companies. Donatella Callegaris, Head of Venture & Growth Lending at BBVA in Europe, highlighted the company’s appeal.
“Roadsurfer represents the type of exciting high-growth company backed by top tier VCs that BBVA wants to support: digital, innovative in their space with an incredibly strong management team and committed to fostering more sustainable ways of traveling” ~ Donatella Callegaris, Head of Venture & Growth Lending at BBVA.
The financing decision also reflects BBVA’s broader commitment to supporting European entrepreneurial ventures with global ambitions. Callegaris noted that roadsurfer’s growth trajectory “It reflects the dynamism of the European entrepreneurial ecosystem and our commitment to providing flexible financial solutions to international companies with proven global ambitions.”
Recent Funding Activity
The BBVA venture debt facility follows a €30 million investment from Avellinia Capital in February 2025, structured as asset-backed financing. This sequence of funding rounds demonstrates continued investor confidence in roadsurfer’s business model and growth prospects across international markets.
Strategic Focus Areas
The new financing will support roadsurfer’s multi-pronged growth strategy, which centers on fleet expansion, market consolidation in key regions, and continued development of digital solutions. The company aims to make camper travel more accessible and sustainable while maintaining its competitive edge in the outdoor mobility sector.
The funding structure allows roadsurfer to pursue international expansion while preserving equity and maintaining operational control. This approach reflects broader trends in the venture capital market, where companies increasingly utilize debt financing to complement traditional equity rounds.
As roadsurfer continues its expansion across Europe and North America, the company’s ability to secure diverse funding sources positions it to capitalize on growing demand for outdoor travel and sustainable tourism options.