Update: UK-based Car Sharing Startup Karshare Now Nearing £1.2 Million Through Equity Crowdfunding Campaign on Seedrs

Karshare, a UK-based car-sharing startup, has successfully secured its initial £1 million funding target and is now nearing £1.2 million through its equity crowdfunding campaign on Seedrs. The funding round launched last month and has already attracted 430 Seedrs investors.

As previously reported, Karshare stated it is creating a more sustainable, shared future, where having a car is seen as a choice and not a necessity.

“The UK’s first car-sharing platform aimed solely at serving local communities, we enable those with cars to share theirs, and thosewithout, to quickly and easily rent one from someone nearby.Car sharing means fewer cars need to be produced each year, and less congestion in our towns and cities – which both reduce carbon emissions and will play a key role in our transition to net zero. Our smart technology and contactless process combined with a mission to empower local communities will help to define our tomorrow and enable a world to do more, with less.”

The company claims that like Fitbit, it generates a score to help our community drive safely. Our app makes it possible for cars to be booked instantly and unlocked using facial recognition.

“Like an Airbnb for cars, Karshare connects renters with owners, giving those with cars the opportunity to earn extra income while those in need of a car can rent from their local community. With an estimated 10 million cars parked at airports each year and 38 million vehicles parked on our streets, Karshare will unlock this huge potential fleet of vehicles – one that is unused 96% of the time – through community car sharing.”

Funds from the Seedrs campaign will be used to continue the growth and development of the Karshare team, as well as the Karshare platform. The company is now offering 10.52% in equity at a £8.5 million pre-money valuation through the funding round, which is set to close mid-January 2021.


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