Swedish-based Hygglo purchased the UK-rental platform Fat Llama for $41.5M, forming one of the biggest peer-to-peer rental sites in the world.
Last year, Ruckify, an older peer of Fat Llama’s asked him to consider a merger. Later, Hygglo asked to purchase Fat Llama. Both deals were successful for Fat Llama, and both were due to his company’s success.
The deal includes Fat Llama’s team, operations, software, and branding. The brand will be kept in the US, UK, and any other mainland European markets, while co-founders Chaz Englander and Rosie Dallas will help with the integration and sit on the board of the new company.
Fat Llama Functioning
Fat Llama was founded in London in 2016 by Chaz Englander, Rosie Dallas, and Owen Turner-Major. The platform allows people to rent out items like cameras, drones, and even swimming pools. With over 350,000 items listed for rent, Fat Llama is one of the biggest renting platforms in the world. Its top lenders made over $250,000 in 2021, and 500+ lenders can make more than $12,000 per year regularly. Users of the platform have used their income to save for weddings, house down payments, and vacations.
The combined companies will form the largest European peer-to-peer rental platform by partnering with Hygglo, according to a statement issued by the joint companies. Together, they will be able to serve more customers across Europe and America, and help people profit off of the things they already own. The company hopes that by combining forces, they will be able to develop a new model of ownership that will allow more people to become independent, while also allowing people to profit from their existing assets.
Chaz Englander, co-founder of Fat Llama, has sold his company to Hygglo. According to Englander, Fat Llama and Hygglo are on the same wavelength about helping rent things across the world and in Europe. He is proud of what his company and team have achieved so far and cannot imagine a better future for Fat Llama than this sale. Rosie and Paul are both entrepreneurs at heart, and they are both excited about the future. Although it is a big challenge to found and grow a startup, they have both enjoyed the experience very much. Right now, they have to focus on integrating Fat Llama into Hygglo, but they wanted to take some time to celebrate all of the successes that they have had so far.
Rosie Dallas is one of the founders of Fat Llama. Together with her co-founders, she set out to create a sharing service that could lend out everything from clothes to cars. Although the acquisition by Hygglo was announced in 2016, Rosie and her co-founders have been working on Fat Llama since the beginning of 2015. She says that she is pleased that her company was acquired by Hygglo, which she believes shares her vision of transforming consumer ownership and making a difference in the world.
Ola Degerfors is the CEO of Hygglo, and he is thrilled that his company is acquiring Fat Llama. Together, they will form the largest, most sophisticated rental platform in the world. Rosie and Chaz have done an excellent job building up Fat Llama, with great verification technology, design, and a loyal customer base of both renters and lenders. Through this merger, Degerfors hopes that people all over Europe and the US will be able to live more sustainable lives by renting more and buying less.