Less than two years after completing its second equity crowdfunding campaign on Seedrs, peer-to-peer car rental platform Hiyacar is now seeking £500,000 on Crowdcube. HiyaCar, formerly known as Ascendia Drive, states it is on a mission to change the way we own and use cars. Its online platform allows car owners to rent their cars to vetted drivers, saving time, money and hassle. The company also noted that it has more than 1,600 cars.
“Say hiya to hiyacar – the only genuine P2P car sharing company in the UK with a keyless solution. If you own a car – rent it out to vetted drivers. If you are a driver – search, book & drive using the app. By giving people freedom at their fingertips, hiyacar aims to change the way we move around and use cars forever.”
Supported by market leading insurance from AXA and roadside assistance from the AA, HiyaCar noted that its first transaction was in February 2016 and raised £1.9 million from angels in late 2016. They soon realized that the hassle of a key handover was the biggest obstacle to scaling so they launched QuickStart, a box allowing drivers to unlock cars on demand and a mobile app with a custom built platform to support in mid-2017. The company also raised more than £500,000 through its two crowdfunding campaigns on Seedrs.
Funds from the latest crowdfunding round will go towards scaling HiyaCar’s marketing and keyless tech. Since its launch on Tuesday, the campaign has successfully secured more than £300,000 from nearly 160 investors. It is set to close at the end of April.
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