Following the launch of Hiya Car’s second Seedrs initiative, co-founder and CEO, Graeme Risby, penned a piece on LinkedIn about why the company has once again decided to use the funding method.
Hiya Car, formerly known as Ascendia Drive, is described as a platform that matches car hirers to car owners, turning idle cars into income generating assets. It revealed:
“HiyaCar is a peer to peer car rental platform which will allow users to own their driving experience, without owning the car. The platform will allow drivers to find, review and rent cars they could or would not usually buy. It also allows owners to list and let out their cars, which may otherwise be sat on a driveway, costing money but not seeing much use. Now car owners can generate additional income on every hire.”
The company previously secured £349,470 on the equity portal last summer. Sharing details about the company since the last funding round, Risby wrote:
“This past year has been one hell of a ride – if you’ll pardon the pun. Our little car rental startup now has a database of over 10,000 members nationwide, we’ve convinced a major insurer to insure their cars and played a part in the landmark £1000 sharing economy tax allowance. Frankly, we need a lie down. But it’s straight onto the next challenge for us. Our next round of funding.”
Despite the fact that Hiya Car’s first campaign was highly successful, the company is asking for more. Risby noted that it was NOT because he and his team are greedy, it’s mainly due to the fact that they are seeing a “bigger picture.”
He shared:
“Over the next year or so we need to grow the business even further to help even more car sharers and drivers in London, and the rest of the UK. We’ll be creating a blueprint for our expansion from London into new cities. London’s a fantastic place to start, but we want more people and more communities all over the country to have access to easy, affordable car sharing.”
Graeme went on to add:
“Growing our team is also a key part of our next stage, as is improving the tech on our website and doubling, maybe even tripling, our marketing efforts. So we’re not pulling into the slow lane yet because the year ahead looks like it’s going to be an even bigger ride than the last.”
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