STARTING OUT ON THE ROAD TO SUCCESS
Launched in 2016, HiyaCar is a ground-breaking online platform offering a peer-to-peer car-hire service. The team wanted to differentiate from “old-school car hire”, and instead help people turn their cars into revenue creating assets.
With initial seed capital behind them, their challenge lay in realising this vision and monetising the proposition. Thoughtstream worked with the founders to revise their financial and business models. We also helped to re-position the company and refine the proposition, including a renaming exercise.
Based on the new proposition, HiyaCar were able to raise £3m in equity from crowd backers to launch the service fully, and have since been dubbed the “Airbnb” of car hire. They now have over 60,000 members and 3,000 vehicles on the road, and ambitious plans for growth.
In October 2018, HiyaCar went on to achieve a further £5m investment from Itochu, the Japanese owners of KwikFit, and are going from strength to strength with their plans for expansion.