UK-based rentaltech startup Final Rentals has raised a 6-figure series funding round as it seeks to expand its global presence and enhance AI capabilities, the company said Monday It’s there. The latest investments will boost the company’s total funds past seven figures, following the first round of 2022, when the early round of 2022 supports international growth and revenue growth.
The funding was led by the E100 London Business School Angel Syndicate, with participation from individual investors in London and the US, as well as existing backers increasing their stock.
Founded in 2019 CEO Ammar Akhtar, Final Rentals has traditionally established itself as a technology first player in the offline industry. With this latest funding, the company bets that demand for streamlined car rental experiences continues to increase as travelers seek more flexible and localized options.
Ammar Akhtar set out to solve a problem he knew well. This is a small car rental company struggling to compete with industry giants. After working with key players in this space for 17 years, he saw that large companies dominate the market.
“This unfair imbalance sparked my vision to create the final rental. It’s a strong network designed to unite local and local car rental companies,” Akhtar said. says. “Final Rentals empowers these small businesses, gives them a global presence and levels the arena in a way that has never been done before.”
FinalRentals connects local and local providers to a larger audience and helps them operate in the same arena as big brands. Instead of squeezing out by corporate control, these businesses have a platform designed to make them more accessible to travelers around the world.
Promote AI and international growth
Final Rentals reported a 300% increase from the previous year since its last funding round, tripling its revenues while entering more than 30 international markets. The company currently partners with over 500 local car rental providers and connects them with their customers through an online platform.
The new capital will be directed towards improving AI-driven automation for the platform, accelerated product development, and expanding to Europe, the Middle East and North America. The company also plans to increase its workforce by 40% to support its international operations.
CEO: “We’re focusing on growth.”
FinalRentals CEO Ammar Akhtar said the company aims to make car rentals more accessible while supporting smaller local providers. “This investment will provide more rental companies with the tools they need to compete globally through technology and automation,” says Akhtar.
Shaking the $100 billion industry
The car rental market, worth around $100 billion, remains fragmented, and many small businesses lack the digital infrastructure to compete with larger brands. FinalRentals’ platform aims to address that gap by providing local businesses with a centralized booking and management system.
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