Following Crowdcube Extension, Hiyacar Achieves More Than £1.1 Million

Just days after extending its equity crowdfunding campaign on Crowdcube, peer-to-peer car rental platform Hiyacar has secured more than £1.1 million and is quickly nearing £1.2 million thanks to more than 670 investors. The funding round made its debut last month and quickly secured its initial £500,000 funding target. 

Hiyacar, formerly known as Ascendia Drive, 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. The company reported its first transaction was in February 2016 and also has raised £1.9 million from angels and more than £500,000 through its two crowdfunding campaigns on Seedrs in 2016.

“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.”

The company also reported:

“hiyacar is now a friendly community with >50k members, cars in every London borough and the best Trustpilot rating for UK car sharing. They launched the first P2P B2B solution and have agreed to launch an “earn while you fly” scheme with a major airport plus a partnership with a leading car manufacturer. Hiyacar is raising funds to be the biggest UK car sharing service by 2020.”

Funds from the latest crowdfunding round will go towards scaling HiyaCar’s marketing and keyless tech. The campaign is now set to close on Tuesday.

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