Car rental technology platform Finalrentals has closed a six-figure Pre-Series A funding round.
This latest round brings the Cardiff-based firm’s total funding to over £1m following an initial investment round in 2022 which helped propel the company into new markets and accelerate revenue growth.
The Pre-Series A round saw participation from investors including the E100 London Business School Angel Syndicate, leading angel investors from both London and the United States, as well as existing backers who increased their stake.
Since its last funding round, the business has tripled its revenue, achieving a 300% year-over-year increase, and expanded into over 30 international markets.
The company has also grown its global partner network to include more than 500 car rental providers.
With this new investment, Finalrentals aims to surpass the $1.5million annual net revenue mark while increasing its global team by 40% to support further expansion.
“This funding is a testament to the strength of our vision and execution,” said Ammar Akhtar, founder and CEO.
“With the backing of our investors, we are poised to redefine the car rental experience, empowering local rental companies with cutting-edge technology, automation, and seamless global reach.”
Finalrentals plans to use the funds to enhance its AI-driven automation, accelerate product development, and expand its international footprint, targeting key markets in Europe, the Middle East, and North America.