Iberian car rental marketplace, Renting Finders has just picked up €700k in a new funding round. The Madrid-based startup has created a digital solution for vehicle renting – making it simpler and more cost-effective for users.
Car renting allows easy access to a vehicle for many people. Consisting of a set monthly fee, that includes insurance and any repairs or services, it enables drivers to enjoy a new car for a period of time, without having to worry about the logistics of buying or selling a car. It’s becoming a popular option thanks to its relative affordability and flexibility.
Leading the market in the Iberian Peninsula, Renting Finders is now setting off on a journey of European expansion. The startup, founded in 2018, has just raised €700k.
Renting Finders: Digital renting marketplace
Founded in Madrid by Arturo Álvarez Podhorecka and Javier Maside Echavarren, Renting Finders has been one of the leaders in the digitisation of the car rental space.
The Spanish startup offers a fresh take on leasing, with a 100% digital, user-centric experience that allows a vehicle to be hired in just 15 minutes. The marketplace has added more than 2,000 vehicles from main leasing operators, with deliveries that can be made in less than 3 weeks right to their customer’s doorstep. In addition, it includes exclusive coverage that minimises the risk of non-monthly payments for its clients.
Arturo Álvarez, CEO and co-founder of Renting Finders. “Despite the current shortage situation in the automotive sector, we were able to grow by 60% in 2021 and to successfully internationalise the company. Renting is already a reality among the private public and Renting Finders helps them to get a better service than they can get if they hire a vehicle on their own, at a better price, without added costs and without paperwork”.
Currently operating in Spain and Portugal, the platform now has more than 3,000 private and professional clients with offices in Madrid and Lisbon.
The funding
This new funding round was led by Faraday Ventures Partners with existing investors such as Tadium Invest, IPGlobal, Koejans Capital and Sembi also participating.
It’ll be used by the Madrid-based team to strengthen the team (currently a headcount of 40), increase investment in marketing and prepare for launch across the European market.
Jaime Biel, Partner at Faraday added: “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.”
