A tender based marketplace for renting vehicles in all countries with prices lower than competitors by 30% and managed by a successful team (prev company val is $100m+)
Current Status
GetRentacar.com have hit a positive unit economics and reached $60.000 GMV in September and $78.000 GMV in October.
Key Traction:
- High Volume of Vehicles: 55000 vehicles
- Sustainable CAC decline 2022: $91 CAC July, $78 CAC August, $63 CAC September, forecasted to break $53 CAC in October
- Positive earnings: GRC generates $5 positive earnings per customer (before including retention)
- GRC loved by Car Owners: GRC charges 20,5% commission vs competitors charging 40%
- GRC loved by Clients: GRC prices undercut competition by 50% through bidding engine marketplace.
Problem or Opportunity
The car rental market is weakly innovative and prices are high and obscure. Before the trip you should pay a huge upfront deposit (money is frozen for several weeks), registration process is long and manual, moreover, there is no company that works in all countries, so you need to look for a company that works locally each time.
Solution (product or service)
GetRentacar.com is the marketplace for renting vehicles that connects car owners and customers in a beneficial way. We solved all main problems of the car rental industry using the following technologies:
1) Tender pricing system - best prices and automatic inflation indexing;
2) Insurtech\fintech solutions - no need to make huge upfront deposit, access to roadside assistance and anytime cancellation;
3) Web\app - rent in a couple of click;
4) Global coverage - more than 100 countries of presence (we are significantly ahead of all our competitors who use a marketplace business model).
Business model
We are a marketplace, so we take a commission for the client's match with the owner of the car, and also take a fee for additional services. And we already have a positive unit economics.
