Renting Finders, a Madrid-based startup, has zoomed off with €700k in a new funding round. It designed a digital platform for car renting by making it more cost-effective and easier for users.
The company, which houses the Iberian car rental marketplace, permits many people to hire vehicles.
Car renting is becoming popular because of its relative flexibility and affordability. Renting Finders aims to lead the rental market across the Iberian Peninsula. It’s now starting with the European expansion journey.
About Renting Finders
The startup was established in 2018 in Madrid by Javier Maside Echavarren and Arturo Álvarez Podhorecka. It has raised €700k and become one of the prominent car rental space digitization.
The company provides a new take on leasing, having a user-centric, 100% digital experience that permits vehicles to be hired in only 15 minutes. And it makes contracts from 24 to 60 months.
It included over 2,000 cars from major leasing operators, with deliveries that can happen in less than three weeks to the customer’s doorstep.
The firm also adds premium coverage that reduces the clients’ non-monthly payment risks.
According to Arturo Álvarez, the Renting Finders CEO and co-founder, “Despite the current shortage situation in the automotive sector, we were able to grow by 60% in 2021 and to internationalize the company successfully. Renting is already a reality among the private-public. Renting Finders helps them get better service than they can get if they hire a vehicle on their own, at a better price, without added costs, and without paperwork”.
Renting Finders is presently running in Portugal and Spain. And it has over 3,000 professional and private clients with offices in Lisbon and Madrid.
Renting Finder’s new funding
The Renting Finder’s new funding is headed by Faraday Ventures Partners plus existing investors like IPGlobal, Tadium Invest, Sembi, and Koejans Capital.
Reacting to the new funding, Jaime Biel, a Partner in Faraday, says, “Renting Finders has experienced considerable growth since its inception, and the company shows high long-term potential, which makes it a very attractive investment. We are very pleased to be able to support the company in its next phase of market consolidation.”
Meanwhile, the Spanish-based startup says it’ll use the funds to strengthen its team, which is presently 40, improve investment in marketing, and effectively prepare for launch in the European market.
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