On Tuesday, HiyaCar’s second Seedrs initiative successfully surpassed its initial £100,000 crowdfunding goal. The company previously secured £349,470 on the equity portal last summer and decided to use the funding method once again and launched the campaign last month.
HiyaCar, originally known as Ascendia, is described as a platform that matches car hirers to car owners, turning idle cars into income generating assets. The company revealed that its peer-to-peer car platfom allows users to “own” their driving experience without actually owning the car. Drivers find, review and rent the vehicles they want. It also allows owners to list and lend out their own cars.
Explaining why he and his team decided to turn to Seedrs once again, co-founder and CEO, Graeme Risby, noted that it was NOT because he and his team are greedy, it’s mainly due to the fact that they are seeing a “bigger picture.” He previously shared:
“Over the next year or so we need to grow the business even further to help even more car sharers and drivers in London, and the rest of the UK. We’ll be creating a blueprint for our expansion from London into new cities. London’s a fantastic place to start, but we want more people and more communities all over the country to have access to easy, affordable car sharing.”
Funds from the new campaign will be used for the following:
- Sales and marketing
- Continued platform development
- Hiring of more staff
- Fast tracking Hard Technology plans to allow for keyless car access.
The company also noted that it’ll take approximately £2 million to drive national and international expansion next year.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!