Fleet App Turns To Seedrs For Funding

22 Nov 2019 | 12.04 pm

Fleet App Turns To Seedrs For Funding

Car dealers can use app to rent cars

22 Nov 2019 | 12.04 pm

A Wicklow-based car tech company is looking to raise €350,000 to fuel its international expansion, using equity crowdfunding platform Seedrs.

Fleet App offers ‘white label’ technology services to car hire operators, and says it can provide an “operational, bespoke, fully-branded car hire platform anywhere in the world within 12 weeks”. 

The company started with a peer-to-peer platform that allowed car owners to hire out their vehicles utilising an on-demand insurance model, then graduated to an enterprise car hire platform, providing licenced services for auto manufacturers and motor groups.

The platform uses a monthly car subscription offering, whereby users can avail of car hire by the month, while rental, insurance, and maintenance all rolled into a single subscription which can be cancelled or upgraded to a better model as required.

The company recently partnered with Toyota Ireland to launch Toyota Daily Rental, a smartphone app allowing customers to hire vehicles from any of Ireland’s 46 Toyota dealerships. The service has seen steady growth since its soft launch in September on Android and iOS devices.

Chief executive Maurice Sheehy (pictured) said: “To date we’ve achieved remarkable success operating with a small, gifted team of developers. We’re keen to grow our engineering team further and get the right talent which will meet our current pipeline of work and fuel further international expansion.

“We’ve chosen Seedrs for the coming investment round because the UK is our initial target market for our international expansion. We are in early-stage discussions with a number of large British motor groups interested in accessing our white label service”.

Fleet App has already raised more than half its target, at £164,000. Its Seedrs page values the company at £3m pre-money.

 

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