Australian Carsharing Service Raises $1.8M

Car Next Door offers its carsharing services in Sydney. Photo via Wikimedia.
Car Next Door offers its carsharing services in Sydney. Photo via Wikimedia.

To help with its expansion, Sydney-based carsharing startup Car Next Door is raising between $1.2 and $1.8 million in funding, according to a report by the Daily Telegraph.

Car Next Door also hopes to create an airport-based peer-to-peer carsharing service and finish building its proprietary software platform, says the report. The airport-based carsharing service would be similar to FlightCar and RelayRides in the U.S.

Will Davies, Car Next Door’s chief executive, told the Daily Telegraph that the funding could help the carsharing service add approximately 1,000 more cars.

"We plan to use these funds to move beyond Sydney and Melbourne and reach other major urban centers around the country, and we plan to get to 10,000 cars being shared by 180,000 borrowers by 2020," Davies told the Daily Telegraph.

To be eligible for Car Next Door, a vehicle must be a 2005 or newer, located in Sydney or Melbourne and available for carsharing at least 70% of the time between Monday and Thursday and 70% of the time between Friday and Sunday, according to the report.

Click here for the full Daily Telegraph report: http://www.dailytelegraph.com.au/business/breaking-news/peer-to-peer-car-sharing-start-up-raising-18m/story-fnn9c0gv-1227461607573

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

My Number One Takeaway from ICRS 2017

This year’s International Car Rental Show (ICRS) opened the door to new business models facing transportation today — yet adapting to these new technologies is not the first key to survival.

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Job Finder: Access Top Talent. Fill Key Positions.

>