The sharing economic climate continues to bear fruit. CarHopper, a platform for luxurious motor vehicle rental, has raised a $ 1.5 million seed circular to expand to new markets.
CarHopper began as a peer-to-peer platform for luxurious motor vehicle homeowners — suppose Lexus, Mercedes and BMW the entire means as much as Ferrari and Rolls Royce — to hire out their rides to others. however in its infancy, the enterprise realized there changed into a much bigger possibility with small, native condo organizations that don’t have a robust online presence.
These local companies have drawback competing with nationwide condominium companies like Avis and Hertz, in accordance with founder and CEO Bora Hamamcioglu, who says that lots of them have archaic inventory systems and negative online booking methods, if any in any respect.
CarHopper helps the transactions for renters and the businesses on their luxurious and extremely excessive-conclusion stock, while the agency still takes care of things like coverage, client carrier and renovation.
On the low-end, CarHopper vehicles can go for $ 600/day, and latitude the entire way up to $ 1,500/day for the priciest fashions.
What story will you drive the following day? from CarHopper on Vimeo.
The enterprise currently operates in los angeles, San Francisco, Miami and Las Vegas, with plans to launch in manhattan, The Hamptons and Orlando.
certainly, CarHopper isn’t by myself in the market. Turo has been around for the previous few years and picked up more than $ 172 million in funding, offering both peer-to-peer sharing as neatly because the entrance-end for rental agencies.
Hamamcioglu says that the large probability for CarHopper, competitively, is to reside concentrated on the luxurious and high-end market and build company loyalty with those specific buyers.
Fundings & Exits – TechCrunch