The startup will also look to expand its current team and increase its marketing efforts.
UAE-based car rental and vehicle-sharing app, Urent, has announced its intentions to expand to Saudi Arabia in 2021, after raising a seven-figure Pre-Series A investment. Led by an unnamed serial entrepreneur, the investment will also be chanelled into hiring new talent and increasing its marketing.
Founded by Omar Al Ashi (pictured) in 2018, Urent allows users to list their vehicles for rent, setting their own prices, availability, rules and limits. For renters, the app allows them to interact with the vehicle owners before allowing them too book and have their chosen vehicle delivered to their doorstep.
“As a new concept in the UAE, we are just beginning to show what our platform can do," Al Ashi said. "Much like Airbnb, our model will usher in a new era of vehicle sharing where guests and hosts will share a wide range of personal vehicles. We will also target large established vehicle rental companies as a core part of our business model. “We can help struggling rental companies, like Hertz, to revolutionise and digitise their business through Urent’s proprietary technology. Not only can we provide the technology but also access to a new global audience of consumers.”
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