DriveSimple, a commercial vehicle subscription business, has raised £1.5 million in new funding, bringing the company’s total capital raised to £4.5m.

The latest funding round is led by Calm Media Investments, with continued support from DriveSimple’s existing shareholders.

The company has also appointed Andrea Romano as CEO as it prepares to accelerate its growth across the UK.

Romano is the former COO of grocery marketplace Lola Market, which was acquired by Delivery Hero.

DriveSimple provides new vans to tradespeople, delivery operators and SMEs through a flexible subscription model designed to sit between traditional leasing and vehicle ownership. Customers commit for a minimum of six months, with a three-month break clause, giving businesses the ability to adjust their vehicle requirements as their workloads change.