Update: Hiyacar Surpasses £1 Million During the Final Week on Crowdcube

With its equity crowdfunding campaign on Crowdcube set to close next Thursday, peer-to-peer car rental platform Hiyacar has successfully secured more than £1 million thanks to over 500 investors. The funding round was launched less than two years after Hiyacar closed its second campaign on Seedrs.

As previously reported, 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.”

Hiyacar is also supported by market leading insurance from AXA and roadside assistance from the AA. The company noted its first transaction was in February 2016 and has raised £1.9 million from angels in late 2016.The company also raised more than £500,000 through its two crowdfunding campaigns on Seedrs. Speaking about its latest campaign’s success, the hiyacar team stated:

“Fantastic news, we have hit our target by 200% and have raised £1 million so far! (An extra special thank you goes to investor No. 444)”

Funds from the latest crowdfunding round will go towards scaling HiyaCar’s marketing and keyless tech.

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