Stressfreecarrental.com, an online car rental booking platform, has raised £534,000 in a funding round led by DSW Ventures and investor Harry Dixon, former technical director at Rentalcars.com.
Stressfreecarrental.com operates a price comparison and booking platform for car rental and airport transfers.
Launched in 2020, the U.K.-based company already operates in the U.K., South Africa, Australia, and the U.S. This investment will allow it to expand its team with the creation of 13 new jobs in the next 12 months, extend its reach in Europe, and accelerate growth, according to the company.
As part of the investment, travel industry veteran James Jennings joins as chairman while Tom Knopek, who has had a 30-year career in the car rental industry, has been appointed as non-executive director.
"We built great foundations for the business last year, and this year we've seen significant growth in our revenues despite the ongoing pandemic,” said John Charnock, founder and CEO. “This investment will enable us to take the business to the next level by extending our reach into foreign language domestic markets, offering clear and transparent car rental in Spain, Italy, Portugal, Germany, and Greece."
Stressfreecarrental.com is the eighth company to join DSW Ventures’s portfolio, which includes other online consumer brands such as One Utility Bill and ACAI Outdoorwear.
“The online car rental market is ripe for disruption,” said Ellie Boardman, investment manager at DSW Ventures. “Stressfreecarrental.com offers a fresh approach and we believe it is well-placed to achieve significant scale. The business has already gained considerable traction, despite restrictions on travel, and this round will support its further development and growth.”