Luxury rental platform raises $1.5M, expands into 4 more cities

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MIAMI - 

An online booking platform for luxury car rentals is gaining more financial steam to match the type of vehicles it offers to clients.

CarHopper — which offers Ferraris, Bentleys, Lamborghinis and McLarens to customers in five different cities known for this kind of luxury — announced on Tuesday it has raised $1.5 million in seed funding.

The company said it also has expanded its operations to include Los Angeles; Las Vegas; Orlando, Fla.; and Fort Lauderdale, Fla. CarHopper explained the capital — which was raised from a syndicate of angel investors — positions the startup already as a top player in the Miami entrepreneurial scene where it is headquartered.

An initial $500,000 was raised in the fourth quarter when the startup operated as booking platform for local and independently owned car rental companies. CarHopper also announced today it has honed its focus to a more curated inventory, sourced from boutique luxury car rental purveyors.

CarHopper just secured an additional $1 million, which will help the company expand its sales and marketing efforts, as well as accelerate product development, bringing the raise to a total of $1.5 million in the last six months.

With the growth of online marketplaces and the sharing economy, CarHopper founder and chief executive officer Bora Hamamcioglu noted that consumers now have a wider variety of channels to access goods and services in non-traditional ways.

“Latest trends demonstrate that people prefer buying experiences rather than assets,” said Hamamcioglu said.

The additional funding builds on what the company described as a strong year for CarHopper, which saw a rapidly growing roster of clients and market momentum expanding their services in key cities like Los Angeles, Las Vegas, and across South Florida — markets in which luxury car rental demand continues to grow based on lifestyle trends and the rising global tourism industry.

“We are very excited to pioneer the growth of this highly fragmented market and streamline the process of renting luxury cars through our innovative technology,” Hamamcioglu said.

For more information, visit www.carhopper.co or download its mobile IOS or Android applications. 

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