Cardiff headquartered Finalrentals, a growing car rental technology platform, has successfully closed a six figure Pre-Series A funding round.
This latest round brings Finalrentals’ total funding to over seven figures, following a successful 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 prominent 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, Finalrentals 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 $1.5 million 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 of Finalrentals. “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.
“We will use this funding wisely and will work towards growth, growth and only growth.”
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.
