Last month, Maidstone-based airbnb for cars Ascendia Drive launched an equity crowdfunding campaign on Seedrs to raise funds to disrupt the $60bn car hire industry.
The company is described as a peer-to-peer car rental platform that allows users to “own their driving experience,” without owning the car. It helps drivers to find, review and rent cars they could or would not usually buy.
Ascendia Drive revealed that it also allows owners to list and “let out” their cars, which may otherwise be sat on a driveway, costing money but not seeing much use. Now car owners can generate additional income on every hire.
Co-founder of Ascendia Drive, Rob Larmour, previously stated:
“Our online platform will give members the ability to choose the right car for the right journey, giving them freedom, flexibility, convenience and value. It also gives the car owners some additional income. Our crowdfunding campaign on Seedrs ended really strongly and the feedback has been very positive.
“We are both from Maidstone so would love the local community to be part of our company and part of the incredible journey that lies ahead in filling a very obvious gap in the market.”
Within a matter of weeks, Ascendia Drive’s campaign successfully raised nearly £400,000. In response to the initiative’s success, co-founder Graeme Risby recently commented:
“As a car owner, I’ve always been frustrated with how cars sit on the drive and depreciate over time. The solution is Ascendia drive, which matches owners with car hirers, putting idle vehicles to use.”
During the campaign, the company offered 24.05% in equity.
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