RideLink (previously known as DriveJoy), an online community where car owners can safely rent their cars directly to drivers, recently launched an equity crowdfunding campaign on Seedrs with a mission to raise £1 million as it prepares for expansion. The company, which was launched with investment from Rocket Internet in 2015, states it is to automobiles what Airbnb is to homes. Its services allow individual car owners to rent their vehicles directly to others when they are not using it. How the service works is simple:
For Drivers: List their car, set the dates and times they aren’t using it and then rent it out to other people in the community helping them to offset the costs of car ownership. Each car owner is also protected by the same Allianz comprehensive insurance policy.
- For Renters: Choose from thousands of cars around them to hire all while being covered by a comprehensive Allianz insurance policy designed for P2P car rental.
RideLink also noted:
“We believe that our growth has been driven by the great value we offer to both owners and renters. Our aim is to give owners access to an easy way to earn money during times when their car would otherwise be sitting parked, and to give renters a fantastic selection of great vehicles, conveniently located near their home or work. Best of all, each rental is fully insured, and includes roadside assistance, giving both owners and renters peace of mind.”
RideLink revealed that its service is a great way to car owners to rent out their car as a way to make extra cash when they are not using it. The company also claimed that for renters it offers a wider selection of vehicles that they would find at a traditional car rental agency at the fraction of the cost. Its services are currently available in the UK, Germany, and Spain.
Since its launch, RideLink’s Seedrs campaign has secured nearly £475,000. It is set to close later this spring.
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