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Hiyacar

Follow-on - Pre-emption

Profile
A platform to match car hirers with local car owners and change the way we use cars forever.

EIS

Location
GB London, United Kingdom

Categories: Automotive & Transport Mixed Digital/Non-Digital B2C

Social Media
Website
www.hiyacar.co.uk
Company number
08690056
Incorporation date
13 Sep 2013
Investment sought:
£5,000,032
Equity offered:
35.18%
Funded 3 Oct 2018
Investment
amount:
£5,021,985
Valuation
(pre-money):
£9,211,271

Idea

Bn street 2

Introduction

HiyaCar is the Airbnb for motor vehicles with all insurance barriers overcome.

HiyaCar is a person to person car sharing platform for car hire between people. It aims to turn the millions of private cars sitting idle on drives and streets into a virtual fleet of cars for hire. This gives hirers more choice, convenience and value for money, whilst car owners are able to turn their car into a second source of income that could even pay for the cost of the car. HiyaCar aims to disrupt the $60bn global car hire industry, which in the UK consisted of 10 million car hires last year.

The HiyaCar platform promotes access over ownership and brings environmental and macro economic benefit as part of the wider sharing economy. This resulted in tax breaks being granted by UK tax authorities, allowing vehicle owners £1,000 of tax free income.

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.

Please note, Itochu, the lead investor in this round, will receive Preference Shares which have the right to 1x non-participating preference in the event of a sale, winding up or other distribution. This means that they have a right to receive the higher of:
- 1x their initial investment first (in preference to other shareholders, with remaining proceeds then distributed pro rata amongst ordinary shareholders); or
- their pro rata share of proceeds, alongside all ordinary shareholders.

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.