Karshare

Idea

Introduction

The move to net zero will require 50% less cars on our roads. Car sharing will play a key role in achieving this.

Like an Airbnb for cars, Karshare connects renters with owners, giving those with cars the opportunity to earn extra income while those in need of a car can rent from their local community.

With an estimated 10 million cars parked at airports each year and 38 million vehicles parked on our streets, Karshare will unlock this huge potential fleet of vehicles - one that is unused 96% of the time - through community car sharing.

We have an extensive partner ecosystem providing owners and renters with world leading assurances and protection.

Our unique platform features telematics and keyless tech. Like Fitbit, we generate a score to help our community drive safely. Our app makes it possible for cars to be booked instantly and unlocked using facial recognition.

With a TrustScore of 4.9/5 and 852 reviews, we stand at the forefront of a new economy that puts community and our planet first.

Monetisation strategy

We will only make money if we make it easy and convenient to share, and communities trust us to enable this.

Our Trust Pilot score (4.9/5) demonstrates our commitment to nurturing and servicing our sharing community. We work every day to retain this.

We make money from each rental. At home, Karshare retains a 25% commission of the car price to support our platform and service capability. Owners retain 70%. (5% VAT).

Unlike traditional car clubs, we don’t own vehicles or pay for parking spaces.

It’s common that the largest marginal cost is insurance. Karshare uses telematics and as a result we have one of the best in class insurance covers globally vs our peers.

With insurance costs low, more of the rental price goes to support higher earnings for owners and Karshare.

Karshare is best placed to nurture, grow and ultimately scale the leading community car sharing platform across the UK and beyond.

We have also recently launched the pioneering Lease and Share agreement with a leading lease company to drive further referral income.