WheelsOn Drives into the Future with $12.5M Funding to Revamp UAE Car Rentals
WheelsOn, a UAE-based car rental platform prioritizing mobile accessibility, has successfully secured $12.5 million in funding. This significant investment will fuel the company’s ambitious plans to expand its vehicle fleet, accelerate the development of innovative product features, and solidify its position within the competitive car rental market. The funding round underscores the growing interest in tech-driven solutions reshaping traditional industries in the MENA region.
WheelsOn’s Strategy for Disrupting the Car Rental Market
The funding comprised $2.2 million in equity from MENA-focused private investors, including partners of Xploration Capital, $6.5 million allocated to fleet expansion, and $4 million secured through local bank financing. This injection of capital propels WheelsOn’s valuation close to $30 million. Maxim Olivson, CPO at WheelsOn, emphasizes the company’s commitment to revolutionizing car rentals through transparency, digital convenience, and user empowerment. By eliminating deposits, paperwork, and physical queues, WheelsOn aims to deliver a seamless experience through its user-friendly mobile app and website. Furthermore, the company is actively developing advanced AI-powered tools to optimize dynamic pricing, personalize vehicle options, tailor insurance plans, and customize rental periods based on individual user preferences.
With this fresh capital injection, WheelsOn is poised to further disrupt the UAE’s car rental landscape by leveraging technology to provide a superior and more convenient customer experience. The company’s focus on mobile accessibility and AI-driven personalization positions it as a key player in the evolving transportation sector.
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