Car rental tech venture Final Rentals has expanded its global presence as it looks quadruple rentals to 100,000 next year.
The business has added Spain and Italy as new locations to hire vehicles, covering Málaga, Mallorca, and Sicily.
Its tech online book platform connects customers with hundreds of car rental businesses.
On its latest expansion Final Rentals’ founder and chief executive, Ammar Akhtar said. “Both countries are at the heart of European tourism, and we are excited to give travellers the ability to explore Málaga’s vibrant coastline, Mallorca’s breathtaking island landscapes, and Sicily’s rich cultural heritage with all the convenience and reliability of Final Rentals.”
The company currently has operations in more than 50 countries.
In a boost to its expansion plans back in February it secured a six-figure investment after successfully closing a pre-Series A investment round .
It brought its fundraising to over £1m following its first round in 2022. The latest round was backed by E100 London Business School Angel Syndicate, leading angel investors from both London and the United States, as well as existing backers.
Final Rentals is deploying the raised capital to enhance its AI-driven automation, accelerate product development and targeting key markets in Europe, the Middle East, and North America.
The car rental sector is worth $100bn globally with Final Rentals saying it is well positioned, as a key disruptor, to bridge the gap between local rental businesses and global travellers through its innovative tech platform.