UFODRIVE, the world’s first all digital, all electric car rental and shared mobility service, is inviting investment to fund its expansion into new locations.
The latest round of funding for this two-year-old business includes a campaign on Seedrs.com, with a target of £1.5million. That figure was exceeded within half the scheduled term and now it’s a question of seeing how far the campaign can go, given the strong demand and undoubted expansion opportunities.
So why is UFODRIVE attracting such interest? Let’s look at five key indicators of a company’s long-term prospects and see how UFODRIVE measures up.
Is it unique?
The less competition a business has, the more attractive a prospect it looks. UFODRIVE is certainly breaking new ground, being first into the digital car rental market with an all electric fleet.
And it’s already leaving the competition in its wake, with the highest Net Promoter Score in the world car rental market, 10 times higher than its nearest competitor.
Is there a need for it?
How many eagerly awaited holidays have got off to a false start due to the car rental experience? You get to the desk, there’s no-one there. When they finally turn up and you make it to the front of the queue, they take ages filling in paperwork and trying to upsell you expensive insurance and fuel options. By the time you drive away from the airport you’re wishing you'd stayed at home.
The legacy car rental model is ripe for disruption and UFODRIVE is disrupting it.
But that’s not the only problem UFODRIVE is solving. As more and more businesses prepare to change out their fleets for electric vehicles, they need software to connect them to the charging network, optimise battery usage etc. UFODRIVE’s fully automated e-mobility software platform is so efficient and easy to use that other businesses are buying it as a SaaS product to manage their own electric fleets.
Is it future proof?
The future is green. The internal combustion engined is doomed. In order to meet climate change targets, Governments have announced plans to ban petrol and diesel engines outright by 2030 and car manufacturers are focusing all their efforts on developing electric vehicles. UFODRIVE is ahead of the game with its all electric fleet, currently connected to a network of over 140,000 fast chargers.
With the onus on companies to become Net Zero by 2050, UFODRIVE is there now. In fact, by contributing to Ark2030 to help global environment regeneration, UFODRIVE has a negative carbon footprint. Furthermore, the shared mobility model is a step towards a future of autonomous vehicles and the end of car ownership as we know it today. Far from having to fall in line with the rest of the world, the world is falling in line with UFODRIVE.
Is it performing?
We’ve already mentioned the Net Promoter Score, and all that positive customer feedback is being reflected in exponential growth. Last year, amidst the global pandemic, UFODRIVE grew by 108%.
With no need for staff on the ground or buildings in each location, UFODRIVE’s overheads are kept incredibly low, resulting in operating margins four times greater than those of legacy car rental businesses. And as the world comes out of lockdown and demand grows for UFODRIVE’s SaaS platform, that growth looks set to accelerate.
Is there room for it to grow?
So just how big can UFODRIVE be? So far, in just two years, it has established 17 locations in eight countries and its pushing ahead with 20 more, including inroads into the US. Just as Uber has disrupted the global taxi market through the smart but simple use of digital technology, UFODRIVE is doing the same to the car rental market – and indeed setting a new standard with its fully electric model.
Moreover, as the world’s population becomes increasingly urbanised, the convenience and cost-effectiveness of the shared mobility model, already worth in excess of $60billion across China, Europe and the United States, will boom as it becomes the next generation’s preference over the cost and waste of traditional car ownership.
These five factors add up to a compelling argument for investing in UFODRIVE. A third of the proceeds will be spent on new locations and fleet, with the remainder deployed across marketing, personnel and technology to support the expansion of both the rental service and the EV fleet management platform. The Seedrs campaign is running until 19 February and full details can be found by following the links below.
To learn more about the campaign and how you can invest, please go to seedrs.com/ufodrive
[disclaimer] Investing carries risks, including loss of capital and illiquidity. Please read the Seedrs risk warning before investing.