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246%
Raised
£1,231,930
Investors
736
Target
£500,000
Equity
14.42%
Pre-money valuation
£7,311,024

Say hiya to the car next door! Hiyacar’s mission is to change the way we own and use cars. Our online platform allows car owners to rent their cars to vetted drivers, saving time, money and hassle. With over 1,600 cars in London we are fundraising to scale our marketing and keyless tech.

  • Aims to disrupt 'on-demand' car space with billions of annual journeys
  • QuickStart keyless technology has doubled booking/request conversions since Nov
  • Insurance comes included- the only UK P2P policy from AXA
  • Business solutions with Councils, Airport, OEMs & Country Estate

Idea

The UK has approximately 32m cars, with 3m in London alone. With average annual costs of £6.6k, cars are expensive and create gridlocked, polluted streets. Yet, 95% of their time is idle. There has to be a better way to own and use cars.

Say hiya to hiyacar - the only genuine P2P car sharing company in the UK with a keyless solution. If you own a car - rent it out to vetted drivers. If you are a driver - search, book & drive using the app. By giving people freedom at their fingertips, hiyacar aims to change the way we move around and use cars forever. Supported by market leading insurance from AXA and roadside assistance from the AA, hiyacar’s first transaction was in Feb 2016 and they raised £1.9m from Angels in late 2016. They soon realised that the hassle of a key handover was the biggest obstacle to scaling so they launched QuickStart, a box allowing drivers to unlock cars on demand and a mobile app with a custom built platform to support it in mid 2017.

Featured in The Times, Sun, Telegraph and Mail, hiyacar is now a friendly community with >50k members, cars in every London borough and the best Trustpilot rating for UK car sharing. They launched the first P2P B2B solution and have agreed to launch an “earn while you fly” scheme with a major airport plus a partnership with a leading car manufacturer. Hiyacar is raising funds to be the biggest UK car sharing service by 2020.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

hiyacar has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.