• Target

    £2,200,000

  • Type

    Equity

  • Close Date

    No date set

  • Status

    Live

RISK WARNING: Your capital is at risk. The risks include: the lack of liquidity in this market in terms of being able to sell shares; the loss of the value of investment; and dilution of shareholding. When you invest any loss in value will not be covered by the Financial Services Compensation Scheme. Please read FULL risk warning.

hiyacar

A P2P car hire platform, providing an Airbnb style model for cars owners and drivers in the UK.

Investment closes only once the total pledged amount passes the minimum of £1,700,000

Total Pledged: £1,381,885
Max

£2,200,000

A pledge is not a commitment. You will be asked to confirm in the next section.

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Overview

Co-Founded by Graeme Risby and Rob Lamour in 2013, hiyacar is a P2P car sharing platform focused on providing car owners the ability to generate revenue from drivers in their local communities by sharing their idle cars. Hiyacar is a technology enabled automotive company and is initially focussing on targeting urban locations, primarily London.  
 
The company spent its first two years preparing the platform and testing the market. In August 2014, AON began to source an insurance product for hiyacar and by 2015, AXA agreed to provide hiyacar with an exclusive insurance product. Hiyacar began to trade in late 2015 and following their second round of investment in late 2016, the team began to scale transactions and develop a second version of the platform in house.
 
During 2016 hiyacar identified that the biggest challenge to generating revenue from idle cars was that the car owner wasn’t always present to hand over the car key to the driver. This led the team to launch QuickStart, a keyless solution based on technology exclusively licensed from a European partner. QuickStart provides drivers access to cars without the car owner being present, improving the user experience and revenue growth. 
 
Currently, the company operates with a B2C and B2B model. In urban locations where there is a high population density, hiyacar targets customers directly. However, in rural areas, hiyacar is focussing on forming partnerships to generate revenue. At present, hiyacar has a virtual fleet of over 2,000 cars, with 1,700 in London (compared to ZipCar’s 1,100) and has facilitated 30 years of hire time and formed its first B2B partnership in November 2017. 
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Deal Manager avatar

Deal Manager
Scott Haughton

  • Sector: Technology / IT / Software
  • Region: UK: London
  • Stage: Early stage - early revenues, pre-profit
  • Eligible Tax: EIS
  • Board Requirement:
  • Pre Money Valuation: £6,700,000
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