Urent, the hybrid vehicle-sharing app, has raised a seven-figure Pre-Series A funding round from an undisclosed serial entrepreneur, founder, and shareholder of multiple businesses in five different sectors, to accelerate growth and help penetrate different markets via the investors’ vast network and experience.
The funds will be used to take operations to the next level by hiring new talent to the team and making investments into its marketing throughout the UAE.
Urent is aiming to help digitize the entire vehicle rental industry in the UAE by providing a fully equipped platform that enables commercial hosts to list their vehicles via the “My Garage” section on the app, as well as set their own rules, limits, pricing, and availabilities of their fleets. Renters will then enjoy navigating via a wide range of vehicles tied to hosts, with the option of interacting with vehicle owners via the app pre-booking, as well as getting vehicles booked and delivered to their doorstep with only two clicks.
Urent plans to expand its operations into Saudi Arabia in 2021. The startup’s vision is to become a marketplace for all vehicles to be listed by commercial hosts for rental purposes without going through the tedious experience of looking everywhere for the vehicle they desire and the price that fits them best.