London-headquartered peer to peer (P2P) car sharing service RideLink has surpassed its £1m crowdfunding target on Seedrs in a little over a month, in a round that the firm claims is the largest ever crowdfund for a P2P car sharing service.
The company, which gives car owners the chance to share their privately owned vehicles when they are not using them Airbnb-style, launched the campaign at the end of March and in that time has has managed to raise over £1m from the crowd as it looks to capitalise on its early growth.
Launched in the UK in June 2015, RideLink has since expanded into Spain and Germany and will now look to grow out it services and ramp up its customer acquisition efforts.
RideLink’s Chief Executive Officer, Alexander Stevenson, who co-founded the company alongside Robert Bruce, has directly referenced the likes of Uber and Airbnb as disruptive business which his firm hopes to follow.
He commented: “It makes no sense for vehicles to sit idle, costing their owners thousands each year in depreciation and maintenance, while rental companies put even more cars on the road to serve those who only need a vehicle occasionally.”
The crowdfunding campaign is currently overfunding and remains open at the time of publication.