HyreCar: Rental Days Rebound to Pre-COVID-19 Growth

HyreCar Inc., a carsharing marketplace for ride-hailing and delivery fleets, provided a corporate update this week and announced the completion of a new auto insurance program with Lloyd’s Apollo 1969 syndicate.

“We are very happy that our weekly rental days have now quickly rebounded to over 19,500, putting us back to pre-Covid 19 growth, and we set a new all-time high month with over 79,000 days in May,” said Joe Furnari, CEO of HyreCar. “We believe this is because our business model and platform allowed us to leverage new opportunities within this crisis and create a larger market with ridesharing and delivery. As states reopen, we should continue to see steady revenue growth in the second half of 2020.”

Beginning Date	Ending Date	Weekly Rental Days
Dec. 30, 2019	Jan. 1	16,912
Jan. 6	Jan. 12	16,995
Jan. 13	Jan. 19	17,156
Jan. 20	Jan. 26	17,271
Jan. 27	Feb. 2	17,447
Feb. 3	Feb. 9	17,804
Feb. 10	Feb. 16	17,923
Feb. 17	Feb. 23	18,352
Feb. 24	March 1	19,942

 

HyreCar also just completed moving its primary and excess automobile insurance liability programs over to Lloyd’s Apollo 1969 syndicate, an insurance provider in the gig economy that provides insurance to many of the top companies in rideshare transportation and food delivery. 

Beginning Date	Ending Date	Weekly Rental Days
March 2	March 8	20,071
March 9	March 15	19,580
March 16	March 22	16,280
March 23	March 29	14,319
March 30	April 5	14,141
April 6	April 12	14,602
April 13	April 19	15,800
April 20	April 26	15,961
Arpil 27	May 3	16,808
May 4	May 10	17,293
May 11	May 17	17,776
May 18	May 24	18,317
May 25	May 31	18,553
June 1	June 7	19,247
June 8	June 14	19,587

Hyrecar’s new insurance program was issued by Assurant, with the backing of Apollo 1969.