A platform to match car hirers with local car owners and change the way we use cars forever.
Hiyacar’s mission is to change the way we own and use cars on a local level. Operating in the global car sharing market, predicted to be $9bn by 2026, hiyacar is the UK’s longest running P2P car sharing service with over 90,000 members and are raising to accelerate their expansion into new cities.
38m cars were on Britain’s roads last year, with over 3m in London alone. They are expensive, yet spend 95% of their time parked. Hiyacar solves this problem. Car owners can rent their cars to vetted drivers and make some extra cash whilst hirers can get access to a car, when and where they want one. The sign up and verification process takes just 90 seconds so you can be off driving in just a few taps.
Existing investors include ITOCHU corporation, one of Japan’s largest companies & the owners of Kwik Fit, Carl Ameln, our Chairman & one of the earliest investors in Zipcar & JustPark and Graham Hobson, the co-founder of Photobox.
With 90+ years worth of booking days, over 50% of which have come from repeat users, we’ve built a loyal and engaged community. During the COVID-19 pandemic, we’ve provided over 1,000 free booking days to the NHS workers enabling them to travel safely.
In 2019, we secured a new fit-for-purpose insurance policy which included hourly pricing so hirers can use us frequently to run errands. Alongside our QuickStart keyless entry system, this will enable hiyacar to scale faster than car clubs and existing competitors.
This is a bridging round to fund growth into new cities using search data and placement of cars from professional owners. We hope a larger raise in 2021 will take place at a significantly higher valuation and see us through to profit.
As this is a pre-emption campaign available only to existing investors, limited information is being provided about the company at this time. Additional documents are available upon request under the Documents section, which provide further context for this raise. The share price for this round is £0.0259 and therefore the multiple on which investments can be made is set at 100 shares for £2.59 with a minimum investment of £10.36. Please note that the company is still expecting some further investment up to a maximum limit for this round of £1,500,000.
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